News & Events | Use Your Stimulus Check to Invest in Community | Truman Heartland Community Foundation
 

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Use Your Stimulus Check to Invest in Community

Thanks to the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) millions of Americans are beginning to receive stimulus checks. While many are depending on this money to make ends meet, for the fortunate ones among us, this as an opportunity to make a difference and help our community endure this challenging time.

A recent survey by Nonprofit Connect found that local nonprofits are facing a strong increase in demand for services, decreased revenues and increased operational expenses caused by the pandemic. We created a new COVID-19 section on our website to encourage Truman Heartland donors to support nonprofits in Eastern Jackson County that are working hard to meet the rapidly-changing needs of the community. These organizations need our support now more than ever.

Donating your stimulus check isn’t just beneficial to your community—it also benefits you, the individual making the gift. Within the CARES Act, there are several provisions that incentivize charitable giving.

If you do not itemize, under the CARES Act you are able to take a special tax deduction, up to $300 for cash donations, to reduce your tax liability.

The CARES Act increased in the deduction limit to up to 100% of a donor’s annual income for cash gifts (previously capped at 60% of annual income).

This one-time direct cash payment will provide $1,200 to those making $75,000 a year or less. Married couples will receive up to $2,400, and those with children will receive an additional $500 per child (up to age 17).

For those struggling to get by – business owners who have been forced to furlough or laid off staff, or who have contracted or are caring for family members with coronavirus – these checks will help alleviate the many stresses people are facing due to efforts to stop the spread of the virus.

But for those who are not facing financial hardships due to COVID-19 and are looking for a way to help those in need, please consider reinvesting that money, or a portion of it, into the charitable causes and organizations that will help strengthen our community for the future.

 

Partner with Truman Heartland for Your Giving

Learn about ways to give through the Foundation and discuss your charitable giving goals with your professional advisor or make an appointment to meet one-on-one with Cole Eason to learn more about ways to partner with Truman Heartland.



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