Office of Gift Planning
Writing this message from my home office, I am thinking about the health and safety of our entire UO community. As the university is constantly looking for ways to ensure the highest quality education for our students this coming fall, we in the Office of Gift Planning continue to serve as resource for our generous donors. As with other development programs in Oregon and across the nation, most of our staff is working remotely. Although we are not in the office and are not able to meet with you in person, we are available by telephone, video conference and email.
The CARES Act
The Coronavirus Aid, Relief, and Economic Security (CARES) Act received a lot of press for its refundable tax credit of $1,200 when it was signed into law in March. However, the act also includes three other provisions that may be important to you:
- You may claim a charitable deduction for a cash gift equal to up to 100 percent of your adjustable gross income. This applies to the tax year 2020 only.
- The required minimum distribution from qualified retirement plans is temporarily waived for the 2020 tax year.
- Beginning in 2020, if you do not itemize, you can claim up to $300 in charitable deductions for cash gifts made to public charities. This applies to outright cash gifts as well as to funding a charitable gift annuity. As of this writing, this is a permanent deduction and will not expire.
If you have any questions phone us at 800-289-2354 or email firstname.lastname@example.org. We are a resource for you and your tax or legal advisors. Thank you for all the ways you support the university. Be well.
Executive Director, Gift Planning