As the end of the year and holidays approach we know many take this time to make end of year donations to their favorite causes. We also know there are many organizations you hold near and dear and are thankful Penn State Rugby continues to be one of them. With that in mind we wanted to make sure you are aware of the many ways you can continue to make a difference for Penn State Rugby.
The Penn State Rugby Foundation is a newly formed 501c3 dedicated to providing long-term, sustainable support to the Penn State Men’s and Women’s rugby teams. With the support of 20 Founding Members the Foundation has hired Chance Doyle as its first ever Executive Director.
“We have ambitious goals for the Foundation,” said Steve Hynes, the Foundation’s Chairman. “Chance’s rugby background and his experience with non-profits give him the ideal background for the role.”
Click "Read More" for links on how you can help!
Read more: Penn State Rugby Foundation Announces Doyle as Executive Director
On March 27, 2020, the President signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act to help combat the far-reaching impacts of COVID-19. The bill provides increased tax incentives for charitable giving for both individuals and corporations, signifying an intent to stimulate philanthropy throughout America.
Are you itemizing deductions?
The adjusted gross income (AGI) limit for cash contributions was increased for individual donors. For cash contributions made in 2020, you can now elect to deduct up to 100 percent of your AGI (increased from 60 percent).
Interested in corporate giving?
The AGI limit for cash contributions was also increased for corporate donors. Corporations can now deduct up to 25 percent of taxable income (increased from 10 percent).
Not itemizing?
The CARES Act allows for an additional, “above-the-line” deduction for charitable gifts made in cash of up to $300. If you are not itemizing on your 2020 taxes, you can claim this new deduction.
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