Why is Year-End Giving Important for Not-for-Profits?
Charitable giving during the holiday season is essential for not-for-profits because it is the time of year when they receive most of the donations that make their services possible. According to Bloomerang and Pursuant, roughly half of all not-for-profits receive most of their annual donations from October through December. The Grand Haven Area Community Foundation reports that 50% of donations to not-for-profits are given in December. According to Not-for-profits Source, 10% of all annual giving taking place in the last three days of the year.
The holiday season, beginning with Thanksgiving, is the time of year when most people are in the gift-giving spirit. They are spending time shopping for loved ones and receiving gifts of their own, which often inspires them to give back to organizations that can make a difference for others. The end of the year is also the last chance for people to make tax-deductible donations before the new year. This makes it the perfect time to give back to the organizations doing good in the community. They survive on these donations, and the donors benefit in many ways as well.
Without donors, MJHS Health System wouldn’t be able to provide many of its programs and services that make a difference in the lives of so many patients. Examples of these programs include Art & Music Therapy as well as Dementia Care, but you can read more about how donations benefit MJHS here. The MJHS Foundation is committed to raising funds necessary to maintain our programs so we can provide the best care to people of all ages, races, religions, and income levels.
What are the benefits for donors?
People who donate money to not-for-profits and charitable organizations experience psychological, emotional, social, and financial benefits, including but not limited to:
Support Worthy Causes
When you give to a not-for-profit, you directly support a cause you feel is good and important. Donating allows you to have a positive impact even if you don’t have a medical degree. For example, you may not be a nurse or doctor, but you can help MJHS patients when you donate.
Boost Life Satisfaction
According to a German study published in Economica in 2008, those who give more to others experience greater life satisfaction than those who do not. The study compared community members in East Germany who had lost their opportunities to volunteer with those who had no change in volunteering, and the results were clear. The joy of helping others does increase your own happiness.
Tax Deduction & Charitable Giving Incentives for Donors- CARES Act
In addition to facilitating direct financial relief to affected nonprofit organizations, the CARES Act also creates charitable giving incentives for donors to 501(c)(3) nonprofit organizations. Section 2204 of the CARES Act includes a new above-the-line deduction (universal or non-itemized deduction that applies to all taxpayers) for total charitable contributions of up to $300. The incentive applies to contributions made in 2020 and would be claimed on tax forms next year.
Section 2205 of the CARES Act lifts the existing cap on annual contributions for those who itemize, raising it from 60 percent of adjusted gross income to 100 percent. For corporations, the legislation raises the annual limit from 10 percent to 25 percent. Food donations from corporations would be available to 25 percent, up from the current 15 percent cap.*
*MJHS does not provide tax advise – please contact your personal accountant.
What are the ways to give?
MJHS Foundation is a 501 (c) (3) not-for-profit organization, meaning all donations are tax deductible. Here are the ways to give to MJHS:
You can donate online by visiting https://www.mjhsfoundation.org/donate/
Please call our offices at (212) 356-5300.
Please make checks payable to MJHS Foundation and mail to:
39 Broadway, 3rd Floor
New York, NY 10006
Create a generous legacy by leaving a gift through your estate plan or will. Find more information about planned giving.
How do donations benefit MJHS?
MJHS is dedicated to providing high-quality care and programs to at-risk members of our community. The donations allow MJHS to make this care a reality. With donations, we are able to help people of all ages, races, and income levels get top-notch services from the MJHS Health System. In 2020, MJHS is matching donations up to $5,000 on Giving Tuesday.
When you support the MJHS, you are giving more than money. You are saying that you believe that caring is doing. Your support continues a charitable tradition that started over 113 years ago. By donating, you are helping MJHS patients, the people who need help the most.
For more information about how you can help, learn about the different ways to support MJHS Foundation.