Gift of Adoption and COVID-19

Dear Friends,

During this unprecedented time, we want to extend our best to you and your family – hoping that you remain safe and well.

It is a time to extend our gratitude for your belief in and support to the Gift of Adoption mission.

We want to take a moment to update you on our grant program and upcoming fundraising events.

Gift of Adoption Grants

Gift of Adoption continues to award grants each month. It has always been our practice (and it is especially critical now) to work closely with our grant recipients, alongside adoption agency/attorney partners, to ensure that, despite travel plan changes, delays, or unexpected costs their adoptions move forward and their waiting children come home for good.

Are you pursuing adoption and facing a financial obstacle? Learn about our Adoption Assistance Grants and begin the application process.

Gift of Adoption Events

We are working closely with our Chapter Board leaders from around the country to continue our fundraising efforts in creative and responsible ways – based on guidance from local, state, and national public health organizations, including the Centers for Disease Control (CDC), and the World Health Organization (WHO). We will communicate directly with anyone registered to participate in an upcoming fundraising event if there are postponements or cancellations. You can find up-to-date fundraising event information on our website: (giftofadoption.org/upcoming-events/).

Charitable Giving in 2021

On December 27, 2020, another stimulus package was signed into law to help combat the far-reaching impacts of COVID-19. In many ways, this bill extends the charitable tax incentives enacted by the Coronavirus Aid, Relief and Economic Security (CARES) Act back in March 2020, but it also provides some additional provisions.

The adjusted gross income (AGI) limit for cash contributions to qualifying public charities remains increased for individual donors. For cash contributions made in 2021, you can elect to deduct up to 100 percent of your AGI (formerly 60 percent prior to the CARES Act).

The CARES Act allowed for an additional, “above-the-line” deduction for charitable gifts made in cash of up to $300. This provision is extended into 2021 for taxpayers filing single/separately.

New in 2021 is an additional “above-the-line” deduction for those married filing jointly. Joint filers (who aren’t itemizing) will be allowed to take an above-the-line deduction of up to $600 in cash contributions to charity this year.

These incentives apply only to cash contributions to public charities and do not apply to contributions to supporting organizations or public charities that sponsor donor-advised funds. However, there have been no changes to existing deductions for contributions made to a donor-advised fund sponsor. This means you are still able to deduct up to 60 percent AGI in cash and up to 30 percent AGI in appreciated assets contributed to a donor-advised fund.

Existing carry-over rules still apply, so if your donations this year exceed your AGI deduction limits, you may carry forward excess deductions for up to five subsequent tax years. As always, donors should consult with their tax and legal advisors when considering their charitable giving.

CARES Act and IRAs

The CARES Act did not change the rules around Qualified Charitable Distributions (QCD), which allow individuals over 70½ years old to donate up to $100,000 in IRA assets directly to charity1 annually, without taking the distribution into taxable income.

Under the CARES Act an individual can elect to deduct 100 percent of their AGI for cash charitable contributions. This effectively affords individuals over 59½ years old the benefits similar to a QCD; they can take a cash distribution from their IRA, contribute the cash to charity, and may completely offset tax attributable to the distribution by taking a charitable deduction in an amount up to 100 percent of their AGI for the tax year.

Make an Impact!

Click the Donate button at the top of this page or visit our Upcoming Events page to help unite more children in need with the families who are waiting to welcome them home.

In times like these, we’re reminded that “The Gift of Adoption is the opportunity to give forever.”