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Insights

April 26, 2020

Randall L. Saunders: CARES Act expands benefits of charitable giving

By Randall L. Saunders

Herald-Dispatch

It goes without saying that times are tough in our nation and our region. Many of us are facing unprecedented financial hardship in the wake of the coronavirus.

Unfortunately, nonprofit organizations across our region are also feeling this pain. The need has increased for the vital services that nonprofits provide, and, at the same time, the downturn in our economy threatens their existence.

Our nonprofits provide integral services for the most vulnerable among us, such as food, shelter and advocacy. And just as the at-risk population needs these services now more than ever, our nonprofits need our help as well.

Thankfully, the recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act provides each of us with the opportunity to support nonprofits by allowing taxpayers to receive a special tax benefit for making cash contributions to qualified charities.