End-of-year giving tips

by | Dec 2, 2020 | Communications, Ministry Support

This information was originally published on 12/18/2019 and updated on 12/2/2020.

End-of-year gifts help even more kids and families experience their worth in Christ. Your donations create environments for individuals to feel safe and receive help to make positive changes in their lives. Your support truly changes lives.

New for 2020: Under a provision of the 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law in March, there are increased tax incentives for donors this year, even if you normally take the standard deduction instead of itemizing. In addition to the new universal charitable contribution, there is a relaxed limitation on itemized deductions for individual and corporate donors. These changes apply to cash gifts only. Please consult your tax preparer or visit the IRS website for more information.

As a nonprofit organization in good standing, we follow IRS rules. To make your gift count towards tax-year 2020, here are some tips to keep in mind.

Check by mail: If you’re mailing a check through the post office, your donation is good for tax-year 2020 only if the postmark on your envelope is before midnight on Thursday, December 31. Note: If you drop your envelope in your mailbox, it might not get postmarked until January 2. If you’re working against the clock, send it registered or certified mail. Keep the receipt and a copy of your canceled check for your file.

Check in person: If you’re in the Wooster area, we’d love to meet you. To make your gift in person, we are available to receive your gift until 4pm on Thursday, December 31.

Credit card online: Make your gift online by 11:59:59pm on Thursday, December 31 and it will be counted for 2020. You’ll receive an immediate email notification to the email address you provided that your gift was submitted. An official email receipt will follow in 1-3 business days noting the date of your gift. If you don’t receive the receipt, please check your junk/spam folder or contact us and we’ll resend. Make your gift at ccho.org/give.

Electronic transfers of securities: When you direct your broker to transfer securities to CCHO, it’s considered a completed donation only when the funds are transferred from your account into another account. Keep in mind that if you are over age 70½, you can make a donation directly from an individual retirement account to a charity.

For more information, please contact Development Director Dan Franks at 330.345.7949, ext 2336 or email franksd@ccho.org.

Tax information sources: Consumer Reports and CNBC

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