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Gift Acceptance Policy

The university's Gift Acceptance Policy was adopted by the Board of Directors in December 2006 with an addendum in March 2010 and revisions in May 2020.

Policies and Forms

CARES Act Philanthropic Provisions

Congress recognizes the importance of continued charitable giving and they have allowed corporate and individual donors to maintain or increase their giving in order to support the missions they most hold dear. Below are key provisions of the new CARES Act that are designed to help you make a gift in support of John Carroll’s mission and our students.
 
New Deduction Available: All taxpayers may take up to $300 ($600 for a married couple) in annual charitable cash contributions, even if you do not itemize. It is an "above the line" adjustment to income that will reduce a donor's adjusted gross income, therefore reducing taxable income. A donation to a donor advised fund does not qualify for this new deduction.

New Charitable Deduction Limits: Individuals and corporations that itemize can deduct much greater amounts of their charitable cash contributions. Individuals can elect to deduct donations up to 100% of their 2020 adjusted gross income (up from 60%). Corporations may deduct up to 25% of taxable income (up from 10%). The higher deduction does not apply to donations to a donor advised fund.

Required Minimum Distributions from IRAs are Suspended: There will be no required minimum distributions for qualified retirement plans in 2020. However, if you are  70½ or older, you can still direct a major gift from your IRA to charities.