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Apple Ridge Farm is supported by grants, corporate sponsors, and individual donors. Your donations support our flagship academic summer camp, educational programs throughout the year, special events, and operations to keep Apple Ridge Farm alive!

 

Additional Tax Benefits

Virginia Neighborhood Assistance Program (NAP)

Apple Ridge Farm is an approved participant in the Virginia Neighborhood Assistance Program (NAP) providing additional tax credits for the donor. Individual gifts of $500 or more, and business donations of $616 or more, are eligible for a 65% Virginia income tax credit. Simply note “NAP credit requested” on your donation check. NAP tax credits will be dispersed on a “first come, first served” basis.

All applications must be submitted within 40 days of the donation date to be considered.

 

 

CARES Act – New Deductions Available for 2020 Taxes!

How CARES Act  Positively Impacts Charitable Giving for Nonprofits

New Deduction Available: The bill makes a new deduction available for up to $300 per taxpayer ($600 for a married couple) in annual charitable contributions. This is particularly beneficial to people who take the standard deduction when filing their taxes (in other words for taxpayers who do not itemize their deductions).

New Charitable Deduction Limits: Also part of the bill, individuals can elect to deduct cash contributions, up to 100% of their 2020 adjusted gross income, on itemized 2020 tax returns. This is up from the previous limit of 60%. 

Corporations may deduct up to 25% of taxable income, up from the previous limit of 10%.

The new deduction is only for cash gifts that go to a public charity. If you give cash to, say, your private foundation, the old deduction rules apply. These new limits do not apply to gifts of appreciated stock.

If your assets are substantial enough that you can give more than your income this year, you won’t lose the deduction for the excess amount. You can use it next year, as has always been the case.

The above information is informational in nature and meant for illustration purposes.  This information is not meant to replace the advice of a tax professional.  Please consult your advisor to see how these rules apply to you.

For more information about donating to Apple Ridge Farm, the NAP tax credit program, or available credits, please contact India H. Stockton, Director of Administration & Development at (540) 982-1322 or india@appleridge.org.

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If mailing a check, please mail to the following:

Apple Ridge Farm

PO Box 13463

Roanoke, VA 24034

 

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