The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) increases the maximum of AGI charitable contribution from 60% to 100% for 2020. You can deduct the full amount of your Adjusted Gross Income–100% of your AGI–in 2020. You can carry forward (for 5 years subject to 60% AGI limitations) your charitable giving which exceeds 100% of your AGI. Consult your financial planner for additional details.
Giving options for 2020:
We can accept mailed or hand-delivered personal checks, checks delivered through bill-pay systems, on-line donations via credit card, credit card donations by phone, or gifts of stock. Please note the following restrictions on giving at year end:
1. Personal Checks:
Mailed, personal checks must be both DATED and POSTMARKED by 12/31/2020 in order to be acknowledged as a charitable gift for the 2020 tax year. Checks from a bank’s bill-pay system must be initiated prior to 12/31/2020 as well.
2. On-Line Donations:
Online donations made through the Bushnell University website must be made PRIOR to Thursday, December 31st at 5 pm (the last business day of the calendar year) in order to be acknowledged as a charitable gift for the 2020 tax year.
3. Credit Card Donations by Phone:
Gifts can be made via credit card by calling the Advancement office at 541-222-0840. These must also be completed by 5 pm on Thursday, December 31st.
4. Gifts of Stock:
All stock transfers must be completed through your stockbroker or financial services provider. For specific questions, contact D.A. Davidson by phone at 541-608-4368 or email Karen Nicholson.
If you have any questions about end-of-year giving, please contact Camille Ogden, Director of Annual Giving, at 541-222-0840.