Members and friends of our churches consider many factors when deciding about whether and how much to contribute to their church. One is often tax deductibility. (See related post: Churches Should Inform Members of the Universal Charitable Tax Deduction for 2021)
Additionally, one report for the 4th quarter of 2020 showed a 15.3% increase in donations of less than $250. There was also an estimated 28% increase in of $300 donations on Dec. 31 – the exact limit of the universal charitable deduction (UCD). The UCD is scheduled to expire on Dec. 31, 2021. The end of the UCD would likely reduce the financial resources available to nonprofits, including churches, that are providing critical services and support.
The Universal Giving Pandemic Response and Recovery Act (S. 618, H.R. 1704), is bipartisan legislation that would raise the $300 for individuals and $600 for couples cap on the UCD to roughly $4,000 for individuals and $8,000 for couples. It would also extend it beyond 2021.
To find out more and/or sign a letter to Congressional leaders Schumer, McConnell, Pelosi, and McCarthy urging them to extend and expand the UCD, please click here by the Dec. 1 deadline. https://case.az1.qualtrics.com/jfe/form/SV_9AKrKJFWOyVlXoO.
Additionally, one report for the 4th quarter of 2020 showed a 15.3% increase in donations of less than $250. There was also an estimated 28% increase in of $300 donations on Dec. 31 – the exact limit of the universal charitable deduction (UCD). The UCD is scheduled to expire on Dec. 31, 2021. The end of the UCD would likely reduce the financial resources available to nonprofits, including churches, that are providing critical services and support.
The Universal Giving Pandemic Response and Recovery Act (S. 618, H.R. 1704), is bipartisan legislation that would raise the $300 for individuals and $600 for couples cap on the UCD to roughly $4,000 for individuals and $8,000 for couples. It would also extend it beyond 2021.
To find out more and/or sign a letter to Congressional leaders Schumer, McConnell, Pelosi, and McCarthy urging them to extend and expand the UCD, please click here by the Dec. 1 deadline. https://case.az1.qualtrics.com/jfe/form/SV_9AKrKJFWOyVlXoO.
Author
David Cleaver-Bartholomew
Rev. Dr. David Cleaver-Bartholomew is the Director of Stewardship and Donor Relations for the SNEUCC. Contact David for: Proportional Giving How to calculate proportional giving for 2021 Annual Giving/Stewardship Campaign General advice and ...