On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed in response to the outbreak of Covid-19. We wanted to share some tax aspects of the legislation that pertain to charitable giving. First, to accommodate the large percentage of taxpayers who do not itemize their deductions (only 8% of people itemized in 2018), the CARES Act allows individuals to make cash contributions, up to $300 “above the line” in computing their gross income. In other words, for 2020 and beyond, taxpayers will receive the deduction on top of their standard deduction. This option is only available for individuals who have not itemized in the past and wish to continue using the standard deduction. For those who do itemize, this new law temporarily lifts the limit on charitable giving in 2020. In the past, contributions were generally limited to 60% of the donor’s adjusted gross income (AGI). The CARES Act now allows donations up to 100% of the donor’s AGI. For our corporate donors, this limit would increase from 10% to 25% of their adjusted taxable income. *Your tax benefit is dependent on your personal income level and filing status. We urge you to consult with your tax professional to develop the best plan for your personal situation.
A Philanthropic Legacy:
For more than 25 years, Foothills School of Arts and Sciences has enjoyed a culture of giving. Generous gifts of all sizes from families past and present, as well as from alumni and friends, enabled the school's growth and play a critical role in our continued success.
The Annual Fund and Auction are the cornerstone of Foothills’ yearly fundraising efforts. Tuition alone cannot cover the cost of educating each student. Through the Annual Fund and Auction, Foothills raises the remaining education cost needed to sustain our exceptional learning community.
When you make a gift to Foothills, you help make Foothills better for your child and for everyone.
There are numerous ways to make a gift. Please see Ways to Give for more details or to make a donation online, click here. If you have any questions, please contact the Director of Development at 208.331.9260 x113.
Foothills thrives thanks to the extraordinary generosity of its community. We are honored to have so many wonderful supporters and are grateful for every gift.
Foothills School is a 501(c)3 charitable organization. Gifts to Foothills are deductible for income tax purposes to the full extent of the law.