CARES Act Opportunities to Maximize Your Giving in 2021

We are thankful for every CityChurch Network partner. Your generosity and prayers are already making a great impact in Central Arkansas, uniting churches through Extraordinary Prayer, Trained Leaders, and Collective Impact. 

Working together we can imagine a flourishing city (Isaiah 65:17-25) where children are thriving, there’s economic opportunity for all, people feel safe and secure, and sadness and crying are replaced by joy and happiness.

Every Year-End Gift to CityChurch Network will be matched up to $150,000 through December 31! This year, your generosity can be multiplied to do even more!

Consider these strategic year-end giving options:

This year only, the CARES Act offers wonderful benefits when you donate to the City Church Network:

You can take a charitable deduction of up to 100% of your 2021 adjusted gross income (AGI) for federal tax purposes. Here are two examples of how you can reach 100%:

  • 60% of your charitable contribution may be cash given to your Donor Advised Fund (DAF). The remaining 40% must be given to charity as cash.
  • 20% cash to your DAF, 30% appreciated assets, and 50% cash directly to charity.

The CARES Act also allows for an additional “above-the-line” deduction for charitable gifts made in cash of up to $300, or $600 for married couples filing jointly. If you are not itemizing on your 2021 taxes, you can claim this new deduction.

Appreciated stocks or property. By donating property, mutual funds, or stocks that you have held for over a year — rather than selling the asset and donating the proceeds — you may receive a tax deduction for the fair market value of the donated securities up to 30% of your adjusted gross income.

IRA Rollover. If you’re 70-1/2 years or older, you can make a qualified charitable donation (QCD) of up to $100,000 directly from your IRA without adding a penny to your taxable income. You’ll also get an income deduction for your charitable gift whether or not you itemize your taxes. 

Cash gift. Any generous donation you give online by midnight December 31 — may apply toward this year’s taxes.

Thank you again for being involved in the City Church Network.  Your donations will unite, align, and maximize the efforts of Christ-followers, leaders, and churches for the good of our community and the glory of God.

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