Did you know that this year, thanks to the CARES Act, you can take a deduction of up to $300 for cash donations when you file your tax return next spring? Per a recent New York Times article, this is a change from the last few years and can make decision making about your philanthropic priorities a little easier before the end of the year.
In the article, Phil Buchanan, Center for Effective Philanthropy president and author of the book “Giving Done Right,” advocated support of community foundations because they “…are deeply familiar with local needs and…have funds dedicated to dealing with the coronavirus.”
It was gratifying to read Phil’s comments because as many of you know, we are indeed deeply committed to Southeastern Massachusetts and connected to local nonprofits that address education, arts & culture, and economic opportunities. Just this year, we gave 85 awards through 60 scholarship funds, elevated creative efforts in Fall River and New Bedford through the Creative Commonwealth Initiative, and granted over $5 million in COVID-19 relief.
We hope you will consider our Annual Fund of SouthCoast Community Foundation which enables us to support our mission to mobilize philanthropy by matching donors and resources with community needs for the benefit of our region. No amount is too small. Every dollar counts.