The U.S. government has approved far-reaching legislation to provide relief to American families, businesses, and not-for-profit organizations. Two significant bills are the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
With the first year under the new tax law behind them, your contributors may be looking to structure their charitable giving in new ways. Although the deductibility of most gifts hasn’t changed, some of the record keeping requirements have. Helping your donors understand the requirements and benefits of their gifts to your not-for-profit organization will help strengthen those relationships.