Now Is A Great Time To Give: New Charitable Tax Rules Incentivize Generosity During COVID-19

During these unprecedented times, nonprofit organizations all over the world are struggling to stay afloat during the multiple challenges presented by COVID-19 or the coronavirus. From human service organizations to arts groups to our very own LRADAC Foundation, the need for help and assistance both during—and after—this pandemic is monumental. However, with the recent passing of the CARES ACT (the two-trillion-dollar federal stimulus response to COVID-19), a new set of tax benefits have been granted to individuals, foundations and businesses to support non-profit organizations in this age of economic hardship. As a result, donors can enjoy new added tax benefits for aligning their charitable giving to the causes that mean the most to them—and it’s easier than ever for donors to be sure of their tax savings while supporting the organizations they care about, whether they’re able to contribute $10, $50 or $500.  

 

At LRADAC, we believe that the financial, social and emotional tolls associated with the coronavirus could prove to be a “perfect storm” for persons in recovery and for those people who may be tempted to misuse alcohol and drugs as a coping mechanism. We also know that many of the people who need help are denied assistance due to the economic hardships that so many people are beginning to face. That’s why the LRADAC Foundation was created to assist families who consider treatment for alcohol or drug misuse but who cannot afford the staggering costs of the services they so desperately need. 

 

The LRADAC Foundation looks to your continued support in our mission to reduce substance misuse as a leading cause of family collapse and harm to children by raising support for families and programs at LRADAC. Now more than ever, your contributions will help people weather this storm and any others that come our way.

 

To learn more about the new tax rules and how it applies to your charitable giving to LRADAC, read the full Forbes article here

 

If you would like to make a charitable donation to the LRADAC Foundation, visit our secure donation page here.

LRADAC is the designated alcohol abuse and drug abuse authority for Lexington and Richland Counties of South Carolina. The public, not-for-profit agency offers a wide array of prevention, intervention and treatment programs in locations convenient to residents of both counties. The agency has a budget of approximately $10 million and serves more than 5,000 clients per year.