Thank you to everyone who participated in the CGSC Foundation’s Giving Tuesday campaign yesterday!
The generous support of donors contributes to programs that directly enhance the education of future leaders and support military families — programs like the Colin Powell Lecture Series, annual awards for academic excellence, and children’s reading programs at the Combined Arms Research Library.
Thank you to everyone who has joined the CGSC Foundation in supporting the Soldiers, families, faculty, and staff of the U.S. Army Command and General Staff College, on Giving Tuesday and throughout the year!
If you missed your chance to make a donation on Giving Tuesday, don’t fret! It’s never too late to give.
CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT (CARES ACT)
On March 27, 2020, the CARES Act was signed into law. The act includes a charitable giving incentive which includes a new above-the-line deduction (universal or non-itemizer deduction that applies to all taxpayers) for total charitable contributions of up to $300. The incentive applies to cash contributions made in 2020 and 2021, and can be claimed on tax forms next year. Section 2204. The law also lifts the existing cap on annual contributions for those who itemize, raising it from 60 percent of adjusted gross income to 100 percent. For corporations, the law raises the annual limit from 10 percent to 25 percent. (Source: National Council of Nonprofits)