It’s the end of 2020! Beyond just being excited for a new year that might not be quite as difficult and heartbreaking, the end of 2020 means that there are still a few chances left to support ISN and save on your taxes!

Donate to ISN through 2020 and get a tax break!
The Coronavirus Aid, Relief, and Economic Security (CARES) Act passed by Congress, created two ways to save on your taxes by donating to ISN before January 1, 2021:

• When claiming the standard deduction on your taxes, be sure to take a deduction for charitable cash donations up to $300 per tax return (not per person, if you are filing jointly). Give now!

• For 2020, when itemizing your deductions, you may deduct cash gifts up to 100% of your adjusted gross income (AGI) instead of the typical 60% limit.

Alas, gifts to donor-advised funds and private foundations are not eligible.
 

Have stocks or mutual funds that performed well this year?
Consider taking a charitable tax deduction for the full fair market value while also avoiding capital gains tax! Make them a gift to ISN!

To transfer securities to Ignatian Solidarity Network, provide your broker with the following information and notify us ([email protected]) about the type and amount of shares so that we can properly record your donation and thank you:

Portfolio Managers: Legacy Strategic Asset Management of Wells Fargo Advisors LLC
ATTN: Kimberly Ellis Morgan
Deliver to DTC Number:  #0141
For credit to Account Number: 5068 1236
Account Name: Ignatian Solidarity Network
Tax Identification Number: 34-2000767
 

Give a charitable rollover gift from your IRA!
Even though the Required Minimum Distribution (RMD) was waived for 2020 due to the  COVID-19 pandemic, if you are over the age of 71, making a Qualified Charitable Distribution (QCD) from your IRA, is still a good idea. Any gift made directly from your IRA administrator to a charity will not count as taxable income. It’s win/win!