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The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), signed into law on March 27, is the largest stimulus package in history. It also has implications to help stimulate charitable giving.

An above-the-line deduction for a “Qualified Charitable Contribution” of up to $300 for non-itemizers is available for cash contributions made to nonprofits (excluding donor advised funds and supporting organizations) for the 2020 tax year and beyond.

For cash contributions to charities (excluding donor advised funds and supporting organizations) made in 2020, the AGI limit is increased from 60% to 100%, with a 5-year carry forward for contributions that exceed 100% of AGI. The SECURE Act changed the age at which you must start taking required minimum distributions from your retirement account from 70½ to 72. This change gives your account additional time to grow. (Special note: For those born BEFORE July 1, 1949, the previous rules apply. Donors who turned 70½ in 2019 or earlier will have to continue taking required minimum distributions.)

Want to know how a gift to a nonprofit today could make a difference when you file taxes? We encourage you to speak with your financial advisor or accountant to see if this legislation would be beneficial to you and your planning.

 

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Grants

Each year, we award over $1 million to nonprofits in Bay and Arenac counties to help create change and make the community thrive.

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Scholarships

We award hundreds of scholarships each year to help our local students achieve their academic dreams and promote education in our area.

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Donor Services

We help you connect to the causes you care about most by helping you create your own charitable fund or donate to a pooled fund.

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What is a Community Foundation?

Community Foundations are the area's leaders in philanthropy. We look to the long-term growth in Bay and Arenac counties to ensure there are always funds available to respond to pressing needs and take initiative for new opportunities.

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For more than 25 years, we have been supporting the philanthropic goals of our donors and the work of our local nonprofits. We don't know what future needs and opportunities will drive the future. But one thing is for sure: because of your generosity, Bay Area Community Foundation will be here!

"Let us be bold. Let us be brave. Let us be together." — Brad Henry

Our Recent Stories

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Being BOLD: Drydock Beer Garden

Be Bold Stories
The partners who opened Drydock Beer Garden envisioned a more vibrant downtown and a way to support their nonprofit organizations. What they didn’t realize was just how important it would become to many nonprofits in 2020.

Thank you to our generous Business Sponsors!

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Hear stories of how grant dollars and scholarship funds are impacting our community, For Good. For Ever.

 

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Pere Marquette Depot in Downtown Bay City

Offices open by appointment only.

1000 Adams St., Suite 200
Bay City, MI 48708
Phone: 989.893.4438
Email: bacfnd@bayfoundation.org
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