Charitable Giving Update
The CARES Act seeks to provide relief to non-profit organizations in 2020 by relaxing some of the limitations on charitable donations:
New Deduction Available: Up to $300 per taxpayer ($600 for a married couple) in annual charitable contributions. This is available only to people who take the standard deduction (taxpayers who do not itemize their deductions). It is an “above the line” adjustment to income that will reduce a donor’s adjusted gross income, and thereby reduce taxable income.
New Charitable Deduction Limits: As part of the bill, individuals and corporations that itemize can deduct greater amounts of their contributions. Individuals can elect to deduct donations up to 100% of their 2020 AGI (up from 60% previously). Corporations may deduct up to 25% of taxable income, up from the previous limit of 10%. The new deduction is for gifts that go to a public charity, such as the Justice High School Scholarship Fund.
Justice HS Scholarship Fund
In 2018, the Stuart Educational Foundation changed its name to the Justice High School Scholarship Fund (JHS Scholars) to reflect the name change of Justice High School and to better represent our mission as a scholarship granting organization. Please know that all funds donated will continue to support Justice High School seniors as they pursue their higher education dreams.
The Justice HS Scholarship Fund was originally incorporated in 2004 as a 501(c)(3) non-profit organization under the name of the JEB Stuart Educational Foundation. The Fund is operated and managed by an all-volunteer board assisted by additional dedicated community volunteers. Since our inception, the Fund has awarded over $1,400,000 to help 635 Justice HS graduates take the important first step toward a college degree.
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The mission of the Justice HS Scholarship Fund is to provide need-based scholarships for Justice High School graduates pursuing post-secondary education. The Justice HS Scholarship Fund supports students who demonstrate a commitment to learning and being contributing members of their communities.