Giving During a Global Pandemic
After Gov. Inslee first announced school closures, Pierce County Executive Bruce Dammeier used his short time on screen to make an important point. Now, more than ever before, we need to support each other. Recognizing Spring is fundraiser season for many non-profits, Dammeier urged others to support the many organizations that form a social safety net for many in our community.
The new Coronavirus Aid, Relief, and Economic Security (CARES) act brings more than a $1200 stimulus to qualifying adults, it brings greater benefit to those who support nonprofits during this time. According to Nonprofit Quarterly board member Gene Takagi, the stimulus bill contains a one-time, above-the-line deduction for cash contributions of up to $300 made to qualifying charities. An article by Nonprofit Quarterly confirms, “All taxpayers would be eligible to take the deduction, even people who use the standard deduction.” The limit for itemized deductions will also be raised from 50% of adjusted gross income and 60% for cash to 100% for each.
To County Executive Dammeier’s point, staying in doesn’t mean we can’t stand up for our community. We can support small businesses in our community, be kind to the many essential workers who are sacrificing time with their own families for our safety and send our love and financial support to the non-profit organizations. The only way we as a community can overcome this trying time is together (but also six feet apart).
This post was sponsored by Tacoma Community College.