On #GivingTuesdayNow CGC Supports Enhanced Giving Incentives
Charitable Giving Coalition Urges Support for Strengthened Charitable Giving Incentives So Americans #GiveMore on #GivingTuesdayNow and Beyond
Add your organization to the letter here.
As we approach #GivingTuesdayNow, the Charitable Giving Coalition—a coalition of associations representing thousands of charitable and faith-based organizations across the country—thanks all Americans who have made charitable donations since the outset of the novel coronavirus pandemic. We also appreciate Congress’s inclusion of enhanced charitable giving incentives, including a temporary above-the-line universal deduction, in the recently enacted CARES Act. As our organizations continue to provide vital services to families, workers, and communities affected by COVID-19, it is critical that Congress provide additional relief to donors and charities so they can continue to achieve their missions now and in the future. This includes further strengthening of charitable giving incentives so that Americans are encouraged to #givemore during these challenging times. Congress can do this by:
1) Expanding the temporary universal charitable deduction
- Increase the $300 cap: The existing cap is too low and, in many cases, may simply capture giving that donors had already planned. A higher cap will stimulate additional giving by encouraging middle-income donors to make larger donations to more charitable organizations.
- Extend the deduction beyond 2020: To ensure charities receive relief throughout the crisis and recovery period, extend the temporary universal charitable deduction beyond 2020.
2) Enhancing other incentives to encourage giving
- Allow new gifts to be deducted on 2019 returns: To ensure charities receive immediate relief, allow all taxpayers (itemizers and non-itemizers) making donations between March 13 (day of national emergency declaration) and July 15 to claim those gifts on their 2019 tax filing.
- Extend and expand temporary suspension of AGI limitations: Further aid would be provided to charities by extending the ability of donors to deduct 100% of their cash gifts through 2021 and including gifts to donor-advised funds. This would make it easier for donors with such funds to make a single gift this year to the fund and support multiple charities out of that gift.
- Increase charitable giving from middle-income seniors for recovery efforts by enacting the Legacy IRA Act: As an additional priority to consider, Congress should build on the existing IRA Charitable Rollover to support middle-income seniors who have a charitable intent but also need retirement income. The bipartisan Legacy IRA Act (H.R. 3832/S. 1257) would expand the IRA Charitable Rollover to allow seniors starting at age 65 to make tax-free IRA rollovers to charities through life-income plans. This expansion to lower the age is even more needed as the CARES Act lessened the incentive for IRA Charitable Rollover gifts by including a one-year freeze on the mandate that IRA holders age 72 and older make a minimum annual withdrawal from their retirement accounts.
Again, we urge you to expand and strengthen these charitable giving incentives in future COVID-19 relief packages to help Americans #givemore. Thank you for your leadership and commitment to America’s charitable community.
Charitable Giving Coalition
Signatories (May 2020):
Agudath Israel of America, Alliance for Charitable Reform, Alliance for Strong Families and Communities, Alzheimer’s Association, American Alliance of Museums, American Association for State And Local History, American Cancer Society Cancer Action Network, American Council on Education, American Diabetes Association, American Heart Association, American Institute for Conservation, American Leprosy Missions, American Red Cross, ANA Nonprofit Federation, Anti-Recidivism Coalition, Arizona Grantmakers Forum, Arthritis Foundation, Association of African American Museums, Association of Art Museum Directors, Association of Children’s Museums, Association of Fundraising Professionals, Association of Governing Boards of Universities and Colleges, Association of Midwest Museums, Association of Public and Land-grant Universities, Association of Science and Technology Centers, Association of Science Museum Directors, Avera Health
Bethany Christian Services, Boys & Girls Clubs of America, Burin Peninsula Health Care Foundation
California Association of Museums, Cathedral Choral Society, Church Hill Activities & Tutoring (CHAT), Cincinnati Museum Center at Union Terminal, CitiHope International Inc., Citygate Network, Coalition of State Museum Associations, Collective Liberty, College Art Association, Colorado Nonprofit Association, Connecticut League of History Organizations, Council for Advancement & Support of Education, Council for Christian Colleges & Universities, Council of American Maritime Museums, Council on Foundations
Dance/USA, Disabled Children’s Fund, ECFA (Evangelical Council for Financial Accountability), EveryLibrary Institute, Faith & Giving Coalition, Fidelity Charitable, Futures Without Violence
Garden-Raised Bounty (GRuB), General Conference of Seventh-day Adventists, Georgia Association of Museums, Girl Scouts of the USA, Girls Inc., Goodwill Industries International, Inc., Historic Naval Ships Association, Home of the Innocents
Independent Sector, Indianapolis Symphonic Choir, International Museum Theatre Alliance, Jewish Federations of North America, Langham Partnership, League of American Orchestras, Leukemia & Lymphoma Society, Long Beach Gray Panthers
Maine Association of Nonprofits, March of Dimes, MasterVoices, Michigan Museums Association, Minnesota Association of Museums, Missouri Association for Museums and Archives, Mountain-Plains Museums Association, Museum Association of Arizona, Museum’s Association of Montana
National Association for Interpretation, National Association of College and University Business Officers, National Association of Independent Colleges and Universities, National Association of Independent Schools, National MS Society, National Philanthropic Trust, New Jersey Association of Museums, North Carolina Museums Council
Ohio Museums Association, OPERA America, PA Museums, Performing Arts Alliance, Plant With Purpose
San Diego Zoo Global, San Francisco Gay Men’s Chorus / National LGBTQ Center Of The Arts, Sojourner Truth House, Gary IN, Southeastern Council of Foundations, Southeastern Museums Conference, Taft Museum of Art, Texas Association of Museums, The Henry Ford, The National Multiple Sclerosis Society, Theatre Communications Group
United Philanthropy Forum, United Way Worldwide, Virginia Association of Museums, Western Museums Association, World Hope International, World Vision US, YMCA of the USA, YWCA USA, Zimmerman Lehman