Create Your Legacy of Philanthropy
The Consolidated Appropriations Act (the "CAA"), which was passed on December 27, 2020 extended and expanded many provisions of the CARES Act for 2021, which continues to make this a favorable time for making charitable contributions.
Individual taxpayers who take the standard deduction may deduct charitable gifts up to $300. In 2021, married couples who file joint returns can deduct charitable gifts up to $600. This is an increase, as prior to the CARES Act, taxpayers who take the standard deduction cannot get a deduction for charitable gifts. Donations must be in cash, not property, marketable securities, real property or otherwise.
Individuals over the age of 70 ½ that take a Required Minimum Distribution from their retirement savings have an opportunity to make a charitable contribution and experience some tax savings. Donations made directly from their retirement savings to public charities reduce the amount of the RMD that is taxable to the individual and will help the Oak Hills Alumni & Educational Foundation provide opportunities for our students, beyond what tax dollars will cover.
During your lifetime, you can recommend a grant from your Donor-Advised Fund to impact lives through The Oak Hills Alumni & Educational Foundation.
A grant from your DAF can provide hope, education, support and guidance for students and teachers.
It’s easy for you to work with your DAF to support OHAEF. Simply contact your fund manager and recommend OHAEF along with the amount of the grant.
Please be sure to tell us about your grant so we can thank you for your generous support.
The final distribution of contributions remaining in your DAF after your lifetime can be designated when you create or update your fund. If you decide to change your beneficiary designation, would you let us know? We would like to recognize you for your generosity and ensure that your gift is used as you intend.