CARES Act – Coronavirus Aid, Relief, and Economic Security Act
We hope that you and your loved ones are well during this COVID-19 pandemic. We understand that your primary concern at this time is for the well-being of your family. We thought you might like to know some of the charitable giving changes that relate to the CARES Act. Here are the main three changes:
- Suspends required minimum distributions for 2020
- Creates a new universal charitable deduction
- Lifts the cap on cash contributions for those who itemize
The Foundation strongly recommends that you consult your financial adviser, tax accountant, or legal adviser for more information on the effects of these changes. As you know, our staff remains committed and dedicated to providing hope and educational opportunities for the students attending Gulf Coast State College. Your legacy is their future. Please let us know if we can be of any assistance to you.
Your Legacy. Their Future
Gift and estate planning offers you the opportunity to support Gulf Coast State College now or after your lifetime, helping you arrange your philanthropic giving with your overall financial and estate plans. Many giving options even offer you financial benefits, allowing you to make the greatest impact on our students while maintaining the future security of you and your loved ones. Gift planning allows you to choose methods of giving that may:
- Earn income, pay fewer taxes, and secure your retirement
- Enhance your net estate
- Create a personal legacy to the Gulf Coast State College
To get started, please complete our Statement of Support (PDF). If you have any questions, please let us know. Our Foundation team is here to serve you.
The Gulf Coast State College Foundation may use third party advisers to help develop a Legacy plan. The Foundation encourages all interested parties to consult a financial adviser or qualified attorney for more information on estate or planned giving. The Gulf Coast State College Foundation is a member of the National Association of Charitable Gift Planners.