Thank You Key Biscayne
With your help, the Key Biscayne Community Foundation delivered 21,000 meals to families in need in Liberty City this year, and we supported hundreds of seniors, at-risk residents, and essential workers on Key Biscayne during the COVID-19 pandemic.
With your help, we also distributed 20,000 gloves, nearly 1,000 masks, and hundreds of bottles of hand sanitizer to residents and essential workers.
And, there’s more…
Our COVID-19 Support
With your help, the Foundation partnered with the Village of Key Biscayne to bring COVID-19 testing to the Key, and we have successfully administered over 4,000 tests for residents and essential workers. We also checked in on 800+ seniors and regularly delivered groceries, medications, and nearly 500 orders of soup made by Key Biscayne’s Gloriosa de la Cruz.
Through donor funds, the Foundation supported families and individuals with over $25,000, and we granted $7,500 to local organizations with COVID related programming.
And With Your Continued Support
Through partnerships with the Village of Key Biscayne and the Key Biscayne Chamber of Commerce, we also created community programs that helped to support local businesses and restaurants. Through donations from our residents and supporters within our community, we were able to make a positive impact in the lives of our residents and neighboring communities.
And with your help today, the Key Biscayne Community Foundation can continue to provide the resident support, organizational assistance, and community programming that helps to better the lives of all of our community members, on and off the Key.
“Unlimited” Deduction for Cash Gifts
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law on March 27, 2020. Individual taxpayers who contribute cash to a public charity may deduct up to 100% of their adjusted gross income (increased from 60%) after taking into account other contributions subject to charitable contribution limitations. Corporations may deduct charitable gifts up to 25% of the corporation’s taxable income (increased from 10%).
The unlimited deduction does not apply to contributions made to donor advised funds or supporting organizations. Individual taxpayers can continue to carry forward any excess charitable contributions for five years. This is only effective in 2020.