Stimulus Checks as Boomerang Donations
Thousands around the Treasure Valley were relieved to see their stimulus checks arrive in their accounts last week. During a time of great economic upheaval, those stimulus checks are a bright spot.
For some, stimulus checks came just in time to pay the bills. For others, those stimulus checks can be a tool to create more good for others.
We at LEAP invite you to give a portion of your stimulus check to help build hope. Like other non-profits, LEAP anticipates a significant loss of income due to COVID-19. That’s a tough pill to swallow. But our team and momentum is as strong as ever.
We are in an extremely strong position to deliver more housing to the Treasure Valley, but we need your help. Build hope with us.
Look at your stimulus check as an investment in housing that reaps benefits for decades. Even a $300 portion of your stimulus check makes a huge difference in housing stability.
In fact, a $300 gift can be a Boomerang Donation, or a donation that serves one purpose while coming back to you.
Effective in 2020, individuals who claim the standard deduction on their taxes are eligible for a tax write-off up to $300. The CARES Act (recently passed by Congress and signed by President Trump) allows taxpayers to receive benefits usually reserved only for individuals who itemize deductions.
This means that if you give $300 to LEAP, you’d get the $300 tax break in addition to the standard deduction ($12,400 for individuals and $24,800 for married couples filing jointly).
If it is financially possible, giving a partial or full amount of your government stimulus check will aid our work in a time of massive uncertainty. (You may have already received your stimulus funds via direct deposit).
Stable housing for all is vital, and with this pandemic we see how truly important it really is. We will continue to keep Idaho families housed through building, preserving, and providing access to affordable homes. Join us in building hope together.