Purchase a $2.50 Community Bag with an attached Giving Tag from any Hannaford store. Follow the instructions on the Giving Tag within 7 days of purchase. Visit MyHannafordCause.com, enter your tag's unique scratch off code and choose Scholastic Talent Showcase. For every bag purchased, Scholastic will receive a $1 donation!
Sponsors
If your organization would like to support our programs as a sponsor, please contact us with the sponsorship level in which you are interested. Please make checks payable to Scholastic Talent Showcase, Inc.
New Tax Incentive for Individual Donors
In March 2020, the Coronavirus Aid, Relief and Economic Security (CARES) Act became law to aid Americans during the health crisis brought on by the COVID-19 pandemic. In addition to economic relief to individuals and businesses, the Act also contains provisions that impact charitable giving options for individuals supporting charitable organizations like Scholastic during these turbulent times for our society. Key provisions of the new law that may affect your charitable giving decisions include:
- A temporary above-the-line charitable tax deduction for cash donations of $300 per tax return for individuals who do not itemize their returns and claim the standard deduction ($12,400 for singles, $18,650 for head of household, $24,800 for married filing jointly). This universal charitable deduction incentivizes those who do not itemize to continue their charitable giving in 2020;
- For individuals who itemize, the cap on deductions taken for annual contributions has been lifted from 60% to 100% of Adjusted Gross Income (AGI) for cash gifts to public charities in 2020. This lift may enable you to avoid significant capital gains and income taxes this year; and
- Individuals aged 70½ and older can continue to make tax-free charitable gifts directly from their eligible IRAs through Qualified Charitable Distributions (QCDs).
Please consult with your financial advisors to ascertain how these opportunities may complement your personal, philanthropic and tax planning objectives.