Established in 2014, the E.P.I.C. Foundation works to assist students in affording the expense of educational support and relies on contributions from the community to create a long-lasting impact on the lives of underserved students.
With schools currently closed and Online Learning being the only alternative for students to continue their education, computers access is very important. Well over 35% of students attending private schools in Miami-Dade and Broward Counties are from low-income homes on scholarships. Some schools have an even higher percentage of scholarship students and many do not provide access to computers or laptops during this time.
With this in mind, we are partnering with EPIC's Corporate Sponsor, United Data Technologies, who is providing us with a great deal on brand new laptops. For less than $300, we can donate a brand new laptop for a student in need.
We have already donated 10 new laptop computers but we want to provide more! Our goal is to give brand new laptops to 100 students in need and YOU can help us!
Please donate NOW and help us give the gift of education by providing much needed technology during these hard times.
PROVISIONS TO SUPPORT CHARITIES
The CARES Act encourages individuals, families, and corporations to continue to contribute to churches and other charitable organizations.
Allowance of Partial Above-the-Line Deduction for Charitable Contributions
Section 2204 of the Act permits taxpayers to deduct up to $300 of cash contributions, whether they itemize their deductions or not. It creates a new “above-the-line” deduction for all taxpayers who contribute to religious, charitable and educational organizations (i.e., for taxpayers who take the standard deduction). This deduction will permit these taxpayers to deduct up to $300 of annual monetary contributions. This is applicable for tax years beginning after 2019, and does not sunset after 2020 like the increased limits described below.
Modification of Limitations on Charitable Contributions during 2020
Section 2205 of CARES increases the limitations on deductions for charitable contributions by individuals who itemize, as well as corporations. Such cash contributions must be made during 2020. This provision does not extend the due date of the 2020 tax return.
• For individuals, the 50%-of-adjusted-gross-income limitation is suspended for 2020.
• For corporations, the 10% limitation is increased to 25% of taxable income. This provision also increases the limitation on deductions for contributions of food inventory from 15% to 25% during 2020.