Ways to Give

Coronavirus Aid, Relief, and Economic Security (CARES) Act Tax Incentives Extended

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. Totaling $2.2 trillion dollars, this bill was written to deliver much-needed relief for American families, workers, businesses, and nonprofits. The CARES Act is the third piece of support and stimulus placed in service to stave off the economic effects of the COVID-19 pandemic in the United States.

A couple of key provisions of the CARES Act were extended into the new year and, in one case, increased. Here’s what the new stimulus package means for you in 2021:

TAX INCENTIVES WHEN YOU GIVE TO CHARITY

  1. An expansion of the universal charitable deduction for cash gifts The universal charitable deduction has not only been extended but given a well-deserved upgrade. The new deduction is $300 for single filers and $600 for married couples filing jointly. This is available to taxpayers who take the standard deduction. This tax incentive is available for cash gifts to qualified charities (but not to supporting organizations or donor-advised funds).
  2. An extension of the cap on deductions for cash contributions
    Contributions to public charities are generally limited to a percentage of a taxpayer’s adjusted gross income (AGI). The CARES Act lifted the cap on annual contributions for those who itemize, increasing it from 60% to 100% of AGI for 2020 and now for 2021. Any excess contributions available can be carried over to the next five years. For corporations, the law raised the annual limit from 10% to 25% of taxable income.
  3. IRA charitable rollover
    Making a gift through your IRA is a simple process that allows you to do more with your charitable dollars. If you’ve not considered it before, see below to learn more about this opportunity to support AWWA Water Equation. In December 2015, Congress passed the IRA Charitable Rollover, allowing those over age 70½ to transfer up to $100,000 per year from their IRA accounts to charities like the Water Equation without first having to recognize the distribution as income. More recently, two newer changes in legislation may affect your charitable giving: the SECURE Act and the CARES Act. 

Learn more about IRA charitable rollovers by visiting our FAQ's page.


WE CAN HELP!

Please note that the above applies to federal taxes only; state law may vary.  For more information about how the extension of these CARES Act provisions may impact your specific financial situation, please consult with your tax, legal, or financial advisor(s).

We’d love the opportunity to talk with you about your giving with AWWA Water Equation and what this means for you. Contact Michelle Hektor at mhektor@awwa.org or 303.734.3613

Give now

We value safe water and public health. Will you help to fund scholarships, leadership and safe water projects in the USA by donating to AWWA Water Equation?

Give now

Giving through Donor Advised Funds

Have you heard of a DAF, but aren't sure how it can help you to plan your annual giving? Fidelity Charitable has accepted AWWA's Water Equation as a recognized philanthropy. It's video will explain how to receive the most from a DAF.

View the video

Memorial and Honor Gifts

Honor your family, friends and loved ones by helping to fund the future of water with a gift to AWWA Water Equation.

Your generous, tax-deductible gift will help water operators, students and young professionals with continuing education in water technologies and provide engineering assistance to underserved communities through Community Engineering Corps.

When you make a gift to the Water Equation, your loved one will receive a beautiful card sent by email or by postal mail letting them know about the gift in their name. There are many special occasions where a a gift to AWWA Water Equation makes for the perfect gift: Memorials and bequests, Birthdays, Holidays, Celebrations, Milestones and achievements, Anytime, in honor of someone special.

For more information, email AWWA donations or call 303.734.3613.


Circle of Giving

What can a group of intelligent, caring and focused women accomplish? ANYTHING! That is the reason AWWA’s Water Equation is creating the Women for Water Circle of Giving to benefit youth programs in the water industry. 

Join us


The Plan

As a member of this illustrious group, you will be asked to suggest a youth program to fund to benefit students as well as the water industry. Your group vote will determine the programs to fund and the impact on your community and others across the nation.


Our Impact

100% of your gift will benefit youth programs selected by this circle of giving. Youth programs can include but are not limited to funding robotics contests, water tower building, high school programs, and transportation to/from water related field trips.


Join Now

Take your place amongst the Women for Water promote the water industry through youth programming. You can choose to make a monthly gift of $83.33, a quarterly gift of $250 or an annual gift of $1,000 by June 1, 2020 on our Women for Water website.


Other ways to give include

  • Mail a check to AWWA Water Equation at 6666 W. Quincy Ave, Denver, CO 80235
  • Contact Michelle Hektor at 303.734.3613 for information to wire your tax-deductible donation from an IRA
  • Contribute through Fidelity Investment Charitable Donor Advised Fund

 

Giving Circles

A giving circle is a group of donors who focus their philanthropic efforts on their common identity or shared experience. The 1881 Society includes the following giving circles, based on cumulative giving. Members of the 1881 Society have given a minimum of $1,000 annually.

Stripe Circle: $50,000 and above
Koch Circle: $40,000-$49,999
Hazen Circle: $30,000-$39,999
Bellar Circle: $20,000-$39,999
Lichtenburg Circle: $10,000-19,999
Leal Circle: $5,000-$9,999
Rook Circle: $3,000-$4,999

An annual gift to The Water Equation is required to maintain active 1881 Society membership. For more information, email AWWA donations or call 303.734.3613.

Bequest

Your assets remain with you during your lifetime. Wills are simple and inexpensive to prepare. There is no upper limit on the estate tax deductions that can be taken for charitable bequests. You can designate to which programs you would like these funds to be donated.

Charitable Remainder Trust

You receive an immediate income tax deduction for some of your contribution to the trust. As long as you are one of the beneficiaries, you pay no immediate capital gains tax on any appreciated assets you donate. You or your designated beneficiaries receive fixed payments for life or a term of years. This gift benefits you now and AWWA later.

Charitable Lead Trust

This trust helps lower estate and gift taxes that would otherwise be due on the value of the assets. This charitable vehicle is especially attractive if you wish to leave assets to children or grandchildren in the future. All appreciation that takes place in the trust goes tax-free to your heirs.

Charitable Gift Annuity

In exchange for a gift of cash, marketable stock, or securities, AWWA will pay your income for life. In addition you may receive a substantial income tax reduction in the year of the gift, and a portion of the annual payment you received is not taxed. Upon the death of the beneficiaries, the remainder goes to the American Water Works Association.

Deferred Gift Annuity

You receive an immediate income tax deduction for a portion of your gifts. You can postpone your annuity payments until you need them. The longer you defer your payments, the higher the effective rate you will receive. The principal grows tax-free. This can be an excellent retirement planning vehicle to implement during prime income producing years.

Gift of Life Insurance

You receive a gift credit and an immediate income tax reduction for the cash surrender value for the policy. You can make a significant gift now to AWWA without adversely affecting your cash flow. You may remove the proceeds from the donor’s taxable estate upon death.

Gifts of Real Estate

You may receive a tax deduction for the full market value, minimize capital gains taxes, and remove the asset from future estate taxes. You can continue to live in and maintain the property as usual, and receive any income it generates. This arrangement creates an immediate income deduction and a federal estate tax deduction.

Retirement Accounts and Pension Plans

You can escape both income and estate tax levied on the residual left in your retirement account by leaving it to AWWA. You can continue to take withdrawals during your lifetime. You also can elect to leave retirement plan assets to AWWA through your will or revocable trust, instead.

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