Thank You to Our Show and Tell Cabin Sponsors
Jen Thalhuber, a member of True Friends’ Foundation Board of Directors, is Ablenet’s CEO. AbleNet’s mission aligns well with True Friends as AbleNet is a world leader in assistive technology, curriculum, and services to help individuals with disabilities lead productive and fulfilling lives.
“I’m proud to be part of True Friends. Their vision of a world where experiences and adventures are open to individuals of all abilities resonates with me personally and professionally,” Jen said.
Charlie Maxwell, founder and CEO of Mersitem Family Wealth, has a long history supporting organizations that empower people with disabilities. Charlie stated, “Meristem and I are happy to support the important work of True Friends.”
Meristem is a unique independent wealth advisory firm that focuses on partnering with families to achieve financial goals. They go beyond the numbers with emphasis on families and their core values.
Lions Clubs International Foundation Donates $100,000 to True Friends
True Friends is honored to be the recipient of a matching grant of $100,000 from Lions Clubs International Foundation (LCIF). This grant will help True Friends complete much needed exterior renovations of cabins and the laundry/shower facility, replace flooring throughout the program center, and install a new sport court flooring in the program center gym. We are proud to display the LCIF logo at center court to recognize their generous commitment to True Friends.
This matching grant was made possible by many local Lions Clubs and several individual donors who gave the initial $100,000 that made True Friends eligible for the LCIF grant. We can’t thank them enough for their dedication to True Friends over many years. They are true to their mission “We Serve.”
On behalf of the leadership, staff, participants, and families served by True Friends, thank you so very much Lions Clubs International Foundation (LCIF) and MD5M Lions Clubs for your dedicated commitment to the programs and services True Friends offers to individuals with disabilities.
CARES Act Benefits Organizations Like True Friends
Several provisions included in the CARES (Coronavirus Aid, Relief, and Economic Security) Act provide income tax incentives to donors assisting charities during the coronavirus pandemic. Please consider taking advantage of them as you prepare for your year-end giving. The incentives include:
- An above-the-line deduction of up to $300 is available for cash gifts to public charities, providing tax savings for those who give but don’t otherwise itemize on their income taxes. The deduction reduces adjusted gross income (AGI).
- The usual limit on deductions for cash gifts is suspended for 2020. Taxpayers are able to deduct up to 100% of AGI for cash gifts to public charities this year. In general, donors may claim deductions for cash gifts up to 60% of AGI and for gifts of appreciated property up to 30%. Excess deductions may be carried over for up to five additional years.
- Many taxpayers will receive rebate checks from the IRS of up to $1,200 for individuals and $2,400 for married couples, with an additional $500 for each child. Rebates begin phasing out for those with AGI in excess of threshold amounts, generally based on their 2018 income tax return. Some donors may find it satisfying to make a gift of their rebate amount to a charity, such as True Friends.
- For 2020, required minimum distributions from IRAs are suspended. Those age 70½ and older may still make qualified charitable distributions (QCDs) of up to $100,000 annually to True Friends, even though no distributions are required this year. QCDs are made with money that has never been—and never will be—subject to income tax.