Ways to Give

The Coronavirus Aid Relief and Economic Securities Act, also known as the CARES Act, includes significant tax relief and charitable giving incentives for 2020. 

Did you know you can offset as much as 100% of your income with a gift of cash to one of our community colleges?

For the 2020 tax year only, you may deduct cash contributions to any of New Hampshire’s Community Colleges to offset up to 100% of your adjusted gross income (AGI). Ordinarily, the income tax charitable deduction for cash gifts is limited to 60%.  

Contributions to donor-advised funds or supporting organizations are not eligible for this deduction.

Can I benefit if I don’t itemize my 2020 taxes?  

The CARES Act allows for an additional, “above-the-line” deduction for charitable gifts made in cash of up to $300. If you are not itemizing your 2020 taxes, you can claim this new deduction.

Does the CARES Act offer charitable giving incentives for businesses?

Yes. Corporations can now deduct up to 25% of their taxable income (increased from 10 percent).