This fall, Creighton launched the most ambitious campaign in its history – Forward Blue. Through our efforts, we will define Creighton’s future while embracing a tradition of excellence in Jesuit, Catholic education. Our foremost priority is scholarships, to ensure that a Creighton education is accessible to qualified students, no matter their circumstances.
There truly has never been a better time to make a gift to Creighton, and until the end of the calendar year, expanded tax benefits enacted by the CARES Act could provide you with tax-smart advantages.
What follows is an abbreviated list; for a detailed explanation, visit IRS.gov/coronavirus. Please consult with your professional advisor when determining the deductibility of your charitable contribution.
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$300 charitable deduction for individuals who don't itemize. Ordinarily, individuals who take the standard deduction cannot claim a deduction for charitable gifts. However, through the end of the year, the law permits them to claim a limited deduction ($300 for individuals and $600 for married couples) on their federal returns for cash contributions to qualifying organizations, thereby reducing taxable income.
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100% limit on eligible cash contributions for those who itemize. Subject to limits, individuals who itemize may generally claim a deduction for charitable contributions. These limits typically range from 20% to 60% of adjusted gross income and vary by the type of contribution and organization. Now, the law permits them to apply an increased limit up to 100% of AGI, for cash gifts made during 2021.
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Corporate limit increase to 25% of taxable income. C corporations can apply an increased corporate limit of 25% of taxable income for cash contributions they make to eligible charities during 2021. Normally, the maximum allowable deduction is limited to 10% of a corporation's taxable income.
As Forward Blue propels us to new levels of impact and influence, we thank you for helping to sustain Creighton’s excellence.
You can make a gift here, or by contacting University Relations at 800.334.8794.
Every gift to Creighton impacts our students and contributes to a better world!