For 2020, our partners have shown great perseverance as they too face COVID-19. The opportunity to offer a hand up from poverty to possibility is increasingly special this season. Looking ahead at the new year, we are focusing on ensuring each of our partners in Africa has the support needed to continue serving their communities.
We can’t do this without your help… and wanted to make your aware of a specific giving opportunity prior to December 31st.
Following special tax law changes made earlier this year, cash donations of up to $300 made before December 31, 2020, are now deductible when people file their taxes in 2021.
“Our nation’s charities are struggling to help those suffering from COVID-19, and many deserving organizations can use all the help they can get,” said IRS Commissioner Chuck Rettig. “The IRS reminds people there’s a new provision that allows for up to $300 in cash donations to qualifying organizations to be deducted from income. We encourage people to explore this option to help deserving tax-exempt organizations – and the people and causes they serve.”
Under this new change, individual taxpayers can claim an “above-the-line” deduction of up to $300 for cash donations made to charity during 2020. This means the deduction lowers both adjusted gross income and taxable income – translating into tax savings for those making donations to qualifying tax-exempt organizations.
Microfinancing Partners in Africa is a 501c3 nonprofit organization with federal ID# 86-1171133. Contributions to Microfinancing Partners in Africa do qualify under the CARES Act.
With these new tax laws, we ask you to consider a $300 donation to directly impact the emergency relief efforts and ongoing microfinance programs we have in Africa.