Leaders and lawmakers have passed the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) to help Americans adjust to the rapid changes brought on by this pandemic.
The vulnerable population Victory serves are among those in our community who are experiencing hardships as a result of the COVID-19 crisis.
Men and women facing extreme poverty, homelessness, and food insecurity are finding themselves with even more questions about where they might turn to find work, housing, and food.
The Victory Mission is still serving our community during this time and you can help them, help others.
Here’s more from Victory Mission:
Our leaders had our vulnerable neighbors in mind, too, when they created the new aid package to bring such relief to our communities. The familiar elements of the bill include stimulus checks for individuals and families, extra unemployment benefits, and tax extensions. However, the new act also includes new benefits for charitable giving to organizations like Victory Mission.
Here are some things to know about the CARES Act and charitable giving:
- If you do not itemize your taxes, you are eligible to receive a tax deduction for up to $300 of charitable contributions when you file your 2020 tax returns.
- If you do itemize your taxes, you can now deduct up to 100% of your taxable income based on your charitable contributions for 2020 (previously, you could only deduct up to 60%).
- Corporations are now able to deduct up to 25% of taxable income based on charitable contributions for 2020 (previously, corporations were able to deduct only 10%).
Victory also has available NAP and Food Pantry tax credits for qualified businesses and individuals.
Victory has set up a COVID-19 Response fund, people may give towards that fund or create their own fundraiser by going to www.victorymission.com/coronavirusresponse. These funds will continue to help Victory provide the much-needed shelter, virtual case management, and food to our community during this crisis.
Victory is also collecting some items like hygiene items and specific food supplies right now. Please call 864-2200 for information or go to the website, www.victorymission.com, for more information.
