CARES Act Charitable Giving
The CARES Act 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, the Clubs are a source of stability, consistency, and
fun for kids and teens. We are providing meals, virtual homework help, mentorship, academic
enrichment activities, social-emotional and physical wellness programs 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.

* Updated 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.

These provisions for taxes are in addition to the Colorado Child Care Contribution Tax Credit. Donors to
Boys & Girls Clubs of Pueblo County may also claim a 50% state income tax credit for their gifts.. 
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