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Major Giving Adventure Club

The Major Giving Adventure Club is a new way to support the Adaptive Sports Center’s mission. Donors who contribute $5,000 or more to our general operating fund during a given fiscal year are considered members of the club. Members of this exclusive club are critical to our ability to meet our mission to improve the lives of people with disabilities through outdoor adventure.

Club members are eligible to receive a new piece of customized Adventure Club gear every other year in addition to invitations to exclusive activities and events designed especially for members and their family and friends. 

PLEASE JOIN THE ADVENTURE CLUB!

Sign up for Adventure Club by contacting Lee at 970.349.2296 or lee@adaptivesports.org.

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Your donation may be eligible for a Colorado state tax credit

We are excited to share that as of October 15, 2015 the Adaptive Sports Center has been approved as a Region 10 EZ Contribution Project.  What that means is that a taxpayer who makes a monetary contribution of $250 or more to the ASC is entitled to a Colorado Income Tax credit of 25% of the value of the contribution up to a maximum credit of $100,000 per year.  In-kind contributions are eligible for a 12.5% in-kind credit. In-kind contributions include employee labor, materials, furniture, computer equipment or stock. With federal deductions for donations, this can mean that a $10,000 donation may only cost the donor $5,000 or less.

New Federal Tax Rules

The CARES act is giving our major donors another way to contribute to the Adaptive Sports Center! For those donors who are still able to itemize their deductions, and therefore directly write off gifts to charity, the current deduction cap is 60% of adjusted gross income. Corporations are able to deduct charitable donations up to 10% of taxable income.

However, the CARES act now lifts these caps to 100% for individuals and joint filers, while corporations will see their cap lifted to 25% for 2020. These are truly substantial changes to the tax treatment of donations. For individuals, it could theoretically mean zero taxable income if someone gives big.

 

Example: If someone has an AGI of $175,000, they would normally be able to deduct up to $105,000 for gifts to charity. With the temporary changes in the CARES act, they could now deduct up to the full AGI of $175,000 if they give that much to charity. The math works the same way for corporations.

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