516 Project Update 4-22-2020

 

We want to make sure you stay up to date on how 516 Project is Being the Light to our community. 2020 is off to an interesting start. Though our country and region are experiencing some turmoil due to COVID-19, we are still working hard to serve those in need and most importantly, to share the love of Jesus. God opened doors for us to serve and we’ve been able to continue doing exterior projects. Over the past several weeks we’ve installed multiple wheelchair ramps, repaired roofs, replaced a roof, added handrails for safety and much more. Thanks to your generosity, we’ve utilized donated funds for tools and materials needed to complete these projects. We’ve also been able to provide food and other resources for several families we served.  

We also wanted to update you on some updated tax benefits to charitable giving.  

 

The CARES act makes substantial changes to the 2020 tax year: 

  1. Above the Line Deduction – If you do not itemize, previously you could not deduct charitable giving.  However, now with the CARES act, you can deduct $300 of your contributions prior to your standard deduction. 
  1. Increased Deductions – For those who itemized, previously, you could only deduct 60% of your adjusted gross income.  CARES act increases this limit to 100%.  This means if you typically spread out a large gift over two years to take advantage of the deduction, you may want to look at including it in one year instead.  Anything over 100% can be carried over to the next 5 years. 
  1. Corporation Benefits – Previously, corporations could deduct 10% of their taxable income.  This has been increased to 25%.  Anything above can be carried over to the next 5 years. 

 

We are not tax professionals or CPA’s, so please discuss these with the tax professional you use for more details. 

 

We want you to be part of our team. In 1 Peter 4:10, Peter tells us to use the gifts God has given us to minister to one another. 516 Project tries to live out this calling with each project we take on. Thank you for joining us on this journey to share the love of Jesus! 

Share:

Facebook
Twitter
LinkedIn
Email
Print

Social Media

Facebook
Twitter
LinkedIn
Email

516 Project News

516 Project Updates

516 Devotion & Motivation

Word on Wednesday 9-8-2021

Let’s go! Pastor Chris has a great Word on Wednesday from the book of Daniel. Our theme for this series is Hope in Suffering. Also, please subscribe to our YouTube

Read More »

Word on Wednesday 8-25-2021

Let’s go! Pastor Chris has a great Word on Wednesday from the book of Daniel. Our theme for this series is Hope in Suffering. Also, please subscribe to our YouTube

Read More »

Categories

Latest Posts

Building Access to Hope through Disaster Respose

Building Access to Hope: The 516 Project’s Disaster Response Efforts The 516 Project is a non-profit organization dedicated to providing disaster response services to those affected by natural disasters. Recently,

24 Hour Workout to Support Handicap Access

We’re excited to announce our upcoming partnership with Kelly Shores and Crossfit 12 Gauge. On May 28 to May 29th Kelly will be working out for 24 hours straight! She

Update – Adamsville TN Tornado Response

We are excited to update you on the 516 Project Disaster Response Team’s efforts in Adamsville, TN. As you may recall, a series of two torndoes caused massive property damage

Tornado Response – Adamsville Tennessee

516 Project – Disaster Response Team will be building access to hope in Adamsville, TN. Adamsville, Tenn. on Saturday, Apr. 1, 2023. A series of storms went through McNairy County

Donate today & help us build a strong community

Donate with
Network for Good

Donate with
PayPal 

If you prefer to send a check our mailing address is:

516 Project, Inc.
5338 Ladysmith Road
Ruther Glen, VA 22546

GuideStar Platinum
Please donate to the 516 Project so we can continue to help build the community