Where to Give
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Where to Give

EVERY GIFT MATTERS!

Where to Give

Every gift to Converse makes a difference in the future of our current students. Several avenues for giving exist, including:

See how your gift can make a difference:

Donate Give Converse

Download the brochure here

CARES Act: Information related to Charitable Giving, March, 2020

Tax Deduction

  • Donors who do not itemize may take a tax deduction for cash gifts of up to $300 per person, $600 per couple.
  • This is an efficient way to give. For example, a couple in a 20% tax bracket can give $600 and reduce their tax liability by $120. The charitable organization receives $600 and the donor pays $120 less in taxes.

Increase of Cap on Charitable Gift Tax Deductions

  • The cap on deductions for a charitable gift increased from 60% to 100% of adjusted gross income.
  • This applies only to cash gifts.
  • Gift amounts beyond 100% of a donor’s adjusted gross income can be applied up to five additional years.
  • This provides an opportunity for additional tax savings for donors making large gifts. For example, if a donor makes a gift of $100,000 in one year and has an adjusted gross income of $100,000 for that year, there would not be any income tax liability.   If the gift were $130,000, the donor could claim a deduction of $100,000 in the first year and claim a deduction for $30,000 in the following year.

Required Minimum Distribution (RMD) from IRAs Suspended for 2020

  • Persons 72 years old and older with an IRA are not required to take a minimum distribution in 2020.
  • This is significant because the amount of the RMD is based on the value of a person’s portfolio of stocks on December 31, 2019. With market uncertainty since that date, the required distribution would be significantly more than if based on current value.  Not having to take a distribution in 2020 allows a retiree to leave their money in the market and hopefully see the value of their stock restored.
Converse College offices will be closed November 25 through November 27. Offices will reopen Monday, November 30 at 8:30 am.
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