COVID-19 CARES ACT is a win-win for donors and for Padua
Thank you to our many alumni, parents and friends of Padua who have generously supported our school and our students! If you are considering a gift before June 30th, thank you for making a difference!
Donors can now deduct cash donations to charities up to 100% of adjusted gross income (AGI) for 2020 only (up from 60% in 2019). Also, taxpayers who take the standard deduction can claim a $300 “above-the-line” deduction for cash gifts. Required Minimum Distributions from IRAs and Pension Plans are suspended for 2020 only. This means donors may have more IRA dollars available for charitable giving. Donors age 70 1/2 and older can still make tax-free Charitable IRA Rollover gifts to charities. It’s a win-win for donors and for our Padua students who need your help now, more than ever. We realize that this is a different time for all of us with the changes COVID-19 has brought to our world. However, what has not changed is our dedication to our mission of educating young men and women. Show your Padua pride and make your gift today. The fiscal year ends June 30, 2020. THANK YOU!