Help Ventura's Youth and Accrue Tax Benefits
The CARES Act’s Charitable Giving Provisions
- Universal Charitable Deduction
The CARES package includes a temporary universal charitable deduction. This deduction will allow all taxpayers to claim an above the line charitable deduction for cash donations up to $300 through December 31. Donations to donor-advised funds and supporting organizations are not eligible for this deduction.
- Adjusted Gross Income Limitation
The law also lifts the cap on annual deductions for cash contributions for those who itemize, raising the cap from 60% to 100% of adjusted gross income. The cap for corporations has been increased from 10% to 25%. For food donations, the corporate cap has been increased from 15% to 25%.
What this Means for You
Kids need your help now more than ever. For many, childhood has been suspended. The Club is a source of stability, consistency, and fun for kids and teens. We are providing meals, virtual homework help, mentorship, academic enrichment activities and the chance to (virtually) have fun with friends and trusted mentors. Your gift helps us maintain and grow these programs. And with these new tax incentives, there has never been a better time to support the Club.
*Written 3/26/2020. Information provided above does not substitute for the advice of your tax advisor or attorney. Please see your tax advisor or attorney for full advice on implications of the CARES Act.
IRA Rollover
If you are 70 1/2 years or older, you can rollover up to $100,000 from your IRA to charity free from federal income tax. Better yet, an IRA rollover gift qualifies for your required minimum distribution, permitting you to lower your income and taxes for this year while helping the kids and teens in our community here in Ventura. Click on the video below and listen to our very own Mike Anderson, John Brant, and Peter McClintock discuss on air some of the many ways you can support our Club.
Planned Giving
Types of assets that make the best-planned gifts. Learn about gifts of cash, securities, and property.
- Unrestricted Cash Donation
- Stocks and Bonds
- Land/Real Estate
- Donated Stock
- Funding Path
- Directly Impact Club Services
- Boys & Girls of Greater Ventura Foundation
Learn how to make a planned gift that provides tax benefits and even life income.
- Donor-Advised Fund
- Bequest
- Charitable Gift Annuity
- Charitable Unitrust
- Charitable Annuity Trust
- Charitable Lead Trust
- Sales and Unitrust
- Sale and Unitrust
- Bargain Sale
- Give it Twice Trust
- Life Estate Reserve
Advance Philanthropy With US
Become a leading steward and ambassador of our Advancing Philanthropy or Boys & Girls Club Foundation Team. If you have financial experience or a passion for connecting with people, we encourage you to join.
Make a gift to the Boys & Girls Club of Greater Ventura Foundation (click to learn more).