FOR COMPANIES FOR NONPROFITS GET INVOLVED OUR WORK DONATE DONATE Individual Giving Together, we’re finding the best way. United Way cares about our community. Just like you. It’s our job to know what our community’s toughest challenges are. And every day, we bring the best partners together to solve the issues that matter most. We are uniting to improve lives by ensuring young people graduate from high school ready for a job or college; individuals and families are financially secure and healthy; and immediate, needs are met in times of crisis, including food and shelter. Help us find the best way. Give today. Other Ways to Give By Mail United Way of Central and Northeastern Connecticut attn: Donor Services 30 Laurel Street Hartford, CT 06106 By phone 860.493.6800 Employee Matching Gift Program Many companies match charitable donations made by employees. This is a fantastic way to increase your gift to United Way of Central and Northeastern Connecticut. Please check with your employer to determine if they have a matching gift program. AmazonSmile You can support United Way of Central and Northeastern Connecticut every time you shop, at no cost to you—when you shop at smile.amazon.com. Choose us as your charity, and Amazon will donate 0.5 percent of the price of your eligible AmazonSmile purchase to our United Way. Click here: Smile.Amazon.com Or, type www.smile.amazon.com from the web browser on your computer or mobile device. You may also want to add a bookmark to AmazonSmile to make it even easier to return Scroll down to select United Way of Central and Northeastern Connecticut to receive donations from eligible purchases before you begin shopping. AmazonSmile will remember your selection, and then every eligible purchase you make on AmazonSmile will result in a donation of 0.5 percent of the purchase price. You can use your existing Amazon.com account for AmazonSmile. THE CARES ACT AND CHARITABLE CONTRIBUTIONS IN 2020 The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law on March 27, 2020. While the impact of the $2.2 trillion response bill is far reaching, here we focus on the key provisions in the CARES Act related to charitable contributions. Please note that the CARES Act provisions highlighted below are only in effect for the 2020 tax year. NEW GIVING OPPORTUNITY FOR NON-ITEMIZERS • Donors who take the standard deduction may also take an “above-the-line” deduction for up to $300 in charitable donations given in 2020. • This effectively allows a limited charitable deduction to taxpayers claiming the standard deduction. For example, if you take the standard deduction and give $300 to charity, you will get a $300 tax break in addition to the standard deduction. RELIEF FROM THE MINIMUM DISTRIBUTION REQUIREMENT • Required minimum distributions (RMDs) are waived for IRAs, including inherited IRAs, and other qualified retirement plans such as 401(k) and 403(b) plans. This is only effective in 2020. • For 2021, The SECURE Act signed into law in December 2019 increased the RMD age from 701⁄2 to 72. IRA QUALIFIED CHARITABLE DISTRIBUTIONS “QCD” CAN STILL BE MADE • The minimum age for making a QCD from your IRA is still 701⁄2, and the annual limit is still $100,000. • The QCD is still available for 2020 even though RMDs have been suspended. Or you can take cash distributions from your IRA and make deductible gifts in 2020, with no AGI limitation. “UNLIMITED” DEDUCTION FOR CASH GIFTS • For donors who itemize deductions, the limit on charitable deductions – generally 60% of modified adjusted gross income – doesn’t apply to qualifying cash contributions to public charities in 2020. • Instead the CARES Act allows taxpayers to claim a tax deduction of up to 100% of your Adjusted Gross Income for contributions to qualifying charities. INCREASED GIVING OPPORTUNITY FOR CORPORATIONS • For corporate donors, the limitation on charitable deductions, which is generally 10% of modified taxable income, doesn’t apply to qualifying contributions made in 2020. • The new law temporarily lifts the limit from 10% to 25% of modified taxable income for 2020 filings. For more information about how the CARES Act may impact your specific financial situation, please consult with your tax, legal, or financial advisors. To make your charitable gift today or for more information, please contact: Jesse Mejia, Director of Workplace Giving at jmejia@unitedwayinc.org or (860) 493-6847 or Kim Reeves, Director, Leadership and Major Giving at kreeves@unitedwayinc.org or 860-493-6882. Note: contributions must be either cash, credit card, check, MobileCause or workplace payroll deduction. Please consult your accountant or financial planner. Inspired by the big things happening in our community? We make sure that every dollar you donate makes a direct impact. Together, we’re finding the best way. Give now. Donate today. Site Navigation About Us The Challenge Our Work Results Get Involved Donate News Quick Links CI Volunteer Login CI Agency Login Careers Contact Us Tax Information Commitment to Racial Equity Helpful Resources FAQs United Way 2-1-1 FamilyWize Internet Essentials Newsletter Sign-up Email * Join the Conversation ©2021 United Way of Central and Northeastern Connecticut. 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