Looking Ahead to Year-End Giving
As a public charity 501(c)(3), CES is responsible to pass the public support test. “In other words, [CES] must be supported by the general public. For that to be true, a significant amount of revenue (at least 33%) must come from relatively small donors (those who give less than 2% of the organization’s income), other public charities, or the government. That leaves 67% to potentially come from other, less diverse sources.” (“Private Foundation vs. Public Charity: Spot the Difference,” by Greg McRay, EA, Founder and CEO of Foundation Group)
To help us reach this year's public support charity test, we are looking for friends of CES and CCS to help spread the word that we are challenging ourselves to receive 100 donations of $500 each (or 50 donations of $1,000) by December 31, 2024.
Keep in mind that many companies generously match the charitable contributions of their employees, and some may also match gifts made by retirees and/or spouses. To find out if your company has a matching gift program, check with your company’s Human Resources office to ask if they offer gift matching. Your Human Resources department will provide a matching gift form to complete and mail to Cornerstone Educational Support, Inc., 903 Main Street, Manchester, CT 06040, or email to Tammy@CornerstoneEducationalSupportInc.org. Company matching programs give your donations twice the impact!
In addition, taxpayers who have already reached the age of 70.5 years or older may plan on making their charitable contributions directly from their traditional IRAs via qualified charitable distributions (QCDs), thus possibly reducing their taxable income. With other age restrictions being considered, these donations might also count as required minimum distributions (RMDs). A QCD is a direct transfer of funds from the traditional IRA custodian, payable to a qualified charity, such as Cornerstone Educational Support, Inc. QCDs are counted for the tax year in which they are taken and (if meeting the additional age requirements) might also count toward satisfying that year’s RMD.
Disclaimer: We are not accountants or lawyers, and this is not tax or legal advice. You will need to talk with your tax and/or legal advisor to see if you qualify and to learn how current federal and/or state tax laws affect you.

Big Dream Blog


