United Way of the Cape Fear Area encourages the greater Cape Fear region to utilize 2020 tax benefits before the year’s end to maximize the potential of their charitable contributions.
Wilmington, NC. (December 15, 2020): United Way of the Cape Fear Area works with our community to leverage resources and improve the lives of local people.
2020 has been a challenging year for many, but United Way continues to overcome obstacles by continuing to unite in good works. This season of giving, the local, independently operated organization, United Way of the Cape Fear Area, is asking its community to amplify impact in order to helping neighborhoods and families recover from the lasting effects of COVID-19.
This year, the ‘‘Coronavirus Aid, Relief, and Economic Security Act’’, otherwise known as The CARES Act has provided economic assistance to workers and their families, as well as provided support for nonprofit agencies across the nation. In addition to this financial support, The CARES Act has also provided additional tax incentives for individuals who would like to make donations in support of local efforts – helping the greater Cape Fear neighborhoods bounce back from the short-term and long-term effects of COVID-19. Across the nation, individuals can receive a universal tax break for 2020 charitable contributions. Briefly, The CARES Act has the potential to do the following:
- New $300 charitable deduction for non-itemizers.
- Bunching contributions and donor-advised funds.
- A double tax break from giving appreciated stock.
- Make a tax-free transfer from your IRA.
*It is recommended to consult a financial advisor to ensure that a charitable contribution is maximized to its fullest potential.
Maximizing a charitable gift has the potential to create innovative partnerships, positive change, and lasting solutions. In a community like the greater Cape Fear area, our neighbors and families are counting on us to band together and take on any challenge that is presented. When individuals support United Way of the Cape Fear Area, their charitable contribution is multiplied. Community Impact allows financial investments, by leveraging funds, to increase for every dollar raised. Currently, $1 invested is transformed into $1.73 through the actions and diligent efforts of grant support and generous contributions from corporations and individuals.
Maximize your gift today. LIVE UNITED and believe in a better tomorrow for every person in the greater Cape Fear region. You can give to UWCFA today by visiting www.uwcfa.org, or by texting “HEREFORCAPEFEAR” to 44-321.