New Charitable Giving Incentive
There is no better time than NOW to make a donation to help vulnerable children and families in Haiti. In light of the Coronavirus pandemic Congress recently passed new charitable tax rules that help nonprofits recover from the negative effects of the economic shutdown.
In March Congress passed the Coronavirus Aid, Relief, and Economic Stimulus (CARES) Act, a $2 trillion economic stimulus package that provides relief for small businesses and nonprofits.
The CARES Act makes it easier to donate gifts to your favorite charities while helping those charities continue their wonderful work. The new rules apply as follows:
For those who do not itemize deductions: New $300 allowance for a charitable contribution
For those who do itemize deductions: 100% of your annual contributions can be deducted (previously only 60% qualified)
For those with retirement accounts…minimum distributions have been waved, however, the law allows all taxpayers, itemizers and non-itemizers alike, to direct gifts from their IRA to charities in a tax-efficient manner.
In the end your gifts to ESPWA will go further in 2020! Please consider making an extra donation to help vulnerable children and families in Haiti during this crisis. Check the links below for details or see your Tax Accountant to determine if you qualify.
Learn more about the CARES Act HERE
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The closure of Espwa schools has rippling effects:
Students are no longer receiving a hot lunch.
Teachers are using technology to deliver at-home lessons. While their creativity is applauded, this requires supplemental resources, like availability of phone minutes and extra printing of homework packages being made available for parents to pick up.
The academic year is at severe risk, especially with the delay in school opening last fall due to violent anti-corruption protests. Many more efforts will be needed in order to ensure they do not sacrifice a full year of education.
Social workers cannot physically visit with children and families and must resort to phone call check-ins. Checking in with the mental, emotional, and physical health of the children is so important.
With markets and businesses closed, access to food and supplies is inhibited, for Espwa and for families in the Family Preservation Program.
Public transportation has been effectively shut down, and trucks transporting resources around the country are targeted by gang activity, slowing down and cutting off the supply chain in some areas.