Annual and Special Gifts
CARES Act Expands Tax Deductions for Charitable Giving
Beginning with 2020 tax returns, all taxpayers will be able to claim up to $300 in cash contributions to charity as a deduction without itemizing. The CARES Act incentivizes Americans who are in a position to help others in need with a new “above-the-line” charitable deduction. Taxpayers will be able to claim up to $300 in cash contributions to a nonprofit this year. This deduction is from gross income for those who take the standard deduction on their 2020 tax return and will ultimately reduce the amount of taxable income.
Annual gifts are an important way for alumni and friends to make a gift to Olivet. Annual support helps the college to secure the resources needed to fund the most immediate needs – including financial aid and scholarships that attract and retain students.
Donors have the opportunity to apply a gift to a specific area of the college or designate their support to the Olivet Fund.
From academic programs and student scholarships to athletics and co-curricular programs, Annual Fund gifts support the student experience in countless ways. And you have the option to make a gift that addresses the college’s most urgent needs or to impact your favorite academic program or athletic team.
Please join our most loyal and committed donors who make a gift each year to support Olivet.