How the Universal Charitable Deduction Could Help Nonprofits During the Pandemic
Like the rest of the country, AMCP Foundation has greatly been impacted by the current normal. As we continue to recalibrate our day-to-day operations we could greatly benefit from extra support. New provisions of the Coronavirus Aid, Relief, and Economic Security (CARES) Act were developed to aid individuals, businesses, and nonprofits like Foundation facing economic hardship during the pandemic.
With the creation of the universal charitable deduction, taxpayers will be able to take a charitable deduction of up to $300 if they do not itemize. If you do itemize, the new law will allow for a cash contribution to qualified charities such as AMCP Foundation to be deducted up to 100 percent of your adjusted gross income for the 2020 calendar year.
Contributions to AMCP Foundation go to developing future leaders in managed care pharmacy, investing in future-focused research, and much more. Your continued support is an investment in the future of the managed care pharmacy profession and we hope we can count on you to give today.
Originally published in the August 2020 AMCP Foundation Insights e-newsletter.