Many people and companies have helped The Raleigh Ringers make its music—and make it more accessible to appreciative audiences. As a self-supporting non-profit, The Raleigh Ringers is heavily reliant on the contributions of people and businesses who value the group’s mission. Whether they’ve contributed space, time, instruments, business services, talent or monetary assistance, patrons are the lifeblood of The Raleigh Ringers.
The "Friends of The Raleigh Ringers" annual, tax-deductible donation program provides an opportunity for you to join with The Raleigh Ringers in its mission. Over the early years, donations have been used to purchase more sets of bells and other instruments, and to help defray the group's administrative and production expenses.
CARES Act Provisions for Year-End Giving
Did You Know? Changes to charitable giving were enacted in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was passed into law in March 2020. This important legislation contains one-year provisions that encourage charitable giving to organizations like The Raleigh Ringers.
The CARES Act provides for a $300 above-the-line deduction for taxpayers who use the standard deduction. While many give generously to nonprofits regardless of whether they receive a tax benefit, this temporary universal charitable deduction is an encouragement to donate to nonprofits this year.
For those who itemized their deductions, the CARES Act temporarily eliminates the 60% of adjusted gross income cap on deductible charitable contributions. For example, a taxpayer with $1 million in adjusted gross income would normally only be able to deduct $600,000 in charitable contributions, but this year, they could deduct $1 million in contributions. This means that these donors may have a tax incentive to make significantly larger charitable contributions before December 31, 2020.
IRS Circular 230 Notice: You are advised to seek your own legal and tax advice in connection with charitable gift planning matters. The Raleigh Ringers does not provide legal, financial or tax advice. This communication, including any attachments, is not intended or written to be used, and cannot be used, for the purpose of avoiding tax-related penalties.