On Friday, March 27, the U.S. Congress passed, and the President signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a $2 trillion economic stimulus package legislated to provide immediate relief for families, businesses, and nonprofits. High Level Information New Deduction Available: Up to $300 in annual charitable contributions. This is available only to people who take the standard deduction (for taxpayers who do not itemize their deductions). It is an “above the line” adjustment to income that will reduce a donor’s adjusted gross income (AGI), and thereby reduce taxable income. A donation to a donor advised fund (DAF) does not qualify for this new deduction. New Charitable Deduction Limits: As part of the bill, individuals and corporations that itemize can deduct much greater amounts of their contributions. Individuals can elect to deduct donations up to 100% of their 2020 AGI (up from 60% previously). Corporations may deduct up to 25% of taxable income, up from the previous limit of 10%. The new deduction is for gifts that go to a public charity, such as MADE IN THE STREETS. Required Minimum Distributions Waived in 2020 for Most Donors: Required minimum distributions (RMD) that would have had to start in 2020 do not have to start until 2021, including distributions from defined benefit pension plans and 457 plans. This change could de-incentive someone from making a qualified charitable distribution (QCD) from their IRA in 2020. However, making a QCD this year to MITS is a great way for itemizers and non-itemizers alike to direct up to $100,000 from their IRA to MITS in a tax efficient manner. Details About the CARES Act The inclusion of an expanded charitable giving incentive is a critical acknowledgement by Congress that the work of nonprofits like MADE IN THE STREETS is essential and important. Indeed, now more than ever street children in Kenya (and all over the World) are facing food shortages; a severe lack of medical attention; and continued fears about COVID-19. They need your love and care more than ever. It is also the first time in history that Congress has passed this type of giving incentive in response to a disaster or national emergency. Here’s How it Works New Deduction Available: The bill makes a new deduction available for up to $300 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). It is calculated by subtracting the amount of the donation from your gross income. It is an “above the line” adjustment to income that will reduce your AGI, and thereby reduce taxable income.
To qualify, you would have to give a donation to a qualified charity, like MITS, before December 31. If you have already made your donation in 2020, that contribution counts toward the $300 cap. A donation to a donor-advised fund (DAF) does not qualify for this new deduction. New Charitable Deduction Limits: Also included in the bill, individuals and corporations that itemize can deduct much greater amounts of their contributions. 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. And while the organizations that manage DAF’s are public charities, you do not get the higher deduction for donating cash to your DAF. These new limits do not apply to gifts of appreciated stock. You can safely and easily make a cash donation to MADE IN THE STREETS through the MITS online donation portal. 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. Required minimum distributions waived in 2020 for most donors: RMD for individuals over age 70½ are suspended until 2021. This includes distributions from defined benefit pension plans and 457 plans. The RMD is an attractive way for donors to make a significant charitable gift directly from their IRA to a charity through a qualified charitable distribution (QCD) while avoiding taxable income. Though not required in 2020, the tax benefit of the QCD still remains. All taxpayers, itemizers and non-itemizers alike, can still direct gifts from their IRA to charities in a tax efficient manner. For more information or to discuss the great tax deductions available to donors in 2020, please contact MITS Executive Director, Brad Voss, at brad@madeinthestreets.org.
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MADE IN THE STREETS is happy to be celebrating 25 years of exciting ministry! Although 2020 has been filled with canceled events and changing plans, our mission to love and serve street kids remains constant. And the need for support is greater than ever. This Giving Season, will you consider making a pledge or donation before the end of the year to invest in the future of street kids? Online GivingIn a matter of minutes, you can give a secure donation online and make an immediate impact. You may also choose to give your gift in honor or memory of someone, and your loved one will be thrilled to know that their impact on you prompted you to be generous toward street children in Kenya. Monthly PartnershipMonthly Partners are the Champions of MITS who go above and beyond to considerably impact the monthly operating expenses of loving and serving former street kids who are enrolled in the MADE IN THE STREETS boarding school program. Monthly Partners can choose a monthly donation level that helps to cover the ongoing costs of food, housing, education, and mentorship, and more for each of the students seeking to change their life in the MITS program. MITS Partners are paired with a current student and agree to donate monthly at one or more of four different levels ($25, $50, $75, $150). Some partners even choose to cover the entire monthly expenses for one student ($400). In addition to the essential financial support, MITS Partners also send and receive letters and updates from the MITS students, along with special news and fun surprises. By MailPrefer to send a check in the mail? That's great! Make checks payable to MADE IN THE STREETS and mail to the following address: MADE IN THE STREETS 409 Franklin Rd Brentwood, TN 37027 The CARES ActThe inclusion of an expanded charitable giving incentive is a critical acknowledgement by Congress that the work of nonprofits like MADE IN THE STREETS is essential and important. Indeed, now more than ever street children in Kenya (and all over the World) are facing food shortages; a severe lack of medical attention; and continued fears about COVID-19. They need your love and care more than ever. It is also the first time in history that Congress has passed this type of giving incentive in response to a disaster or national emergency. Anyway you give, it matters to street kids; thank you for for generosity! What is #GivingTuesday??Celebrated globally on the Tuesday after Thanksgiving, Giving Tuesday kicks off the season of end-of-year giving. People all over the world come together online to give to others. This year by December 1st, MADE IN THE STREETS is hoping to raise $27,200! Why $27,200? $1600 covers all the costs associated with moving a child from the streets to MITS boarding school program. We are trying to bring 17 new students off the streets and into school! What is this "Never Give Up" thing? The students at MITS have taught us what it looks like to never give up. We want to join them and share a message of hope to those still on the streets - never, never, never, never give up! We need your help! Will you join us?? How can you get involved?1. Spread the word. #GivingTuesday is spread and fueled by the power of social media and digital platforms. Post on your social media, email or text people you know. Get the word out about street kids! Use any of the images below to share on your social media 2. Make a donation. You don't have to wait until December 1st to give...give today 3. Become a fundraiser. It only takes a few minutes to set up a fundraising page. If 17 people raise $1600, we can meet our goal! Click the link below to get started Once you've opened our #GivingTuesday campaign, click the "become a fundraiser" button: Create a fundraising team or set up a page as an individual: Follow the next steps to set up an account and start fundraising!
Give a Meal. Offer Hope.Street Eats is a program to provide meals for street kids and street moms at the MITS Centre in Eastleigh, a neighborhood in Nairobi. For many students and former street kids at MITS, receiving a meal is often the introduction in their story of transformation. What Can Your $5 Do?Your $5 covers the cost of one nutrient-rich meal. For the price of a latte, you can provide a full day's worth of calories to one living on the streets. $5 goes a long way!
Here’s an update on the current situation in Kenya: (NEW UPDATES IN ORANGE)
Since school has been suspended country-wide, MITS has taken the following steps to minimize exposure:
Regarding other issues:
Dear MADE IN THE STREETS Family and Friends,
Like many of you, we are prayerfully navigating the current COVID-19 global pandemic and learning to operate in a “new normal." We hope and pray that this finds each of you safe and healthy. Last week we were all faced with changes and disruptions that led to the cancellation and postponement of many trips and events scheduled for the next few months. The MITS team in the US and in Kenya has been monitoring the virus outbreak and working thoughtfully to address current and future challenges – and determine the best paths forward. Here’s an update on the current situation in Kenya:
Regarding other issues:
There are still many unknowns at this time. Dealing with change and navigating these unknowns is tough, but we feel optimistic and ready to keep the students and staff at MITS healthy and well - which is our number one priority. We also feel concerned and uneasy about this pandemic and how it may negatively impact this year’s fundraising and our ability to provide all the necessary resources for MITS’s mission of loving and serving street kids in Kenya. We covet your prayers and appreciate your continued support. We have a great global family of MITS partners and a great hope in the One who guides our path. As we say often at MITS, “God is Good….All the time.” We will be providing additional updates as they become available and reaching out soon to ask for your assistance. Stay tuned for additional emails and follow MITS social media pages for more news and information. Thank you for your continued prayers and support for MADE IN THE STREETS. And thank you for showing and sharing the love of God to street kids! With much love and thanks, Brad Brad Voss Executive Director At MADE IN THE STREETS, we believe student sponsorship is incredibly rewarding for both you and the students, but don't just take our word for it! See what one of our sponsors, Alex Lamb, has to say about her experience: Why did you decide to sponsor a student at MITS? I decided to sponsor a student after visiting MITS. I was in graduate school for Marriage and Family Therapy at Lipscomb University, and my professor arranged for me and a classmate to use a mission trip to MITS as credit for a course. We were able to go to MITS and conduct group counseling with the new students that had recently arrived to MITS and who were adjusting as new students. It was in the group counseling sessions where I connected with many, but specifically with one of the students. I found out she did not have a sponsor yet, and I knew in that very moment I had to sponsor her.
Why would you recommend sponsorship to someone else? Sponsoring a student at MITS has been one of the most fulfilling experiences of my life. It is not only investing financially but emotionally and relationally. Every encounter I have with Susan, I realize that she teaches me and impacts me more than I could ever impact her. She has become one of my most treasured relationships in my life. As a sponsor, your monthly contribution plays a vital role in meeting the physical, emotional, and spiritual needs of a student at MITS.
If you are interested in becoming a sponsor like Alex or would simply like more information, click the button below! Still have Christmas shopping to do? Want to make an impact on the lives of street kids? Why not do both at the same time?! Check out the options below and make your gifts go further! Amazon SmileAmazon will donate 0.5% of your purchases to MITS if you designate us as your charity organization through AmazonSmile? If you do your online shopping through Amazon, please take a moment to select MITS as your charity and AmazonSmile will do the rest! Christmas Pop-up StoreOpen for one more week, our Christmas store is a great place to get gifts for everyone on your list! Matching GiftsDid you know thousands of employers will match donations made to non-profits? Is yours one of them?
Talk to your HR department to find out if your company will double your donation! The month of December includes some of the best seasons of the whole year. December means winter weather season; the holiday season; and Giving Season. As we close in on the end of 2019, there are some great giving opportunities that will make a lasting impact on kids who are currently living on the streets of Nairobi. Online GivingIn a matter of minutes, you can give a secure donation online and make an immediate impact. You may also choose to give your gift in honor or memory of someone, and your loved one will be thrilled to know that their impact on you prompted you to be generous toward street children in Kenya. Stock GivingWith the current success of the US stock market and the change to rules for itemized deductions under the Tax Cuts & Jobs Act, stock donations are one of the best ways to maximize your impact and reduce your taxes. MADE IN THE STREETS makes it simple and easy to donate stock and make a life-changing difference for street kids. Due to the new rules, stock donations can significantly reduce your taxes by giving you deductions that exceed your new increased standard deduction amount. Stocks held for more than a year that have risen in price can be donated to MADE IN THE STREETS and provide a tax deduction equal to the fair market value of the stock at the time of the donation. For more information on making a stock donation to MADE IN THE STREETS before the end of the year, contact MITS’ Executive Director Brad Voss (brad@madeinthestreets.org / 817-688-6675) or MITS’ Finance Director Ericka Maple (ericka@madeinthestreets.org / 615-300-5724). Monthly PartnershipMonthly Partners are the Champions of MITS who go above and beyond to considerably impact the monthly operating expenses of loving and serving former street kids who are enrolled in the MADE IN THE STREETS boarding school program. Monthly Partners can choose a monthly donation level that helps to cover the ongoing costs of food, housing, education, and mentorship, and more for each of the students seeking to change their life in the MITS program. MITS Partners are paired with a current student and agree to donate monthly at one or more of four different levels ($25, $50, $75, $150). Some partners even choose to cover the entire monthly expenses for one student ($400). In addition to the essential financial support, MITS Partners also send and receive letters and updates from the MITS students, along with special news and fun surprises. By mailPrefer to send a check in the mail? That's great! Make checks payable to MADE IN THE STREETS and mail to the following address: MADE IN THE STREETS 409 Franklin Rd Brentwood, TN 37027 Anyway you give, it matters to street kids; thank you for for generosity!
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