2021 Update on the CARES Act

Jun 9, 2021

Charitable Deduction Limits Modified for Individuals
For 2021, the CARES Act will continue to allow donors to deduct cash gifts to public charities up to 100% of their adjusted gross income (AGI), increased from 60 percent.

While contributions to a Donor Advised Fund (DAF) or Supporting Organization (SO) do not qualify for the 100% deduction, a donor could make a cash contribution of 60 percent of their AGI to a DAF or SO and also make a 40 percent of AGI contribution to other charities.

If you have questions or issues you’d like to discuss, please contact Linda Sweeney, Senior Director of Philanthropic Planning, at 415.464.2507 or lsweeney@marincf.org. As always, we also encourage you to consult your private professional advisors to explore the particular aspects of your unique circumstances.

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