Make a Cash Gift
The most common and simplest way for a person to support Big Brothers Big Sisters of Central Mass/Metrowest is with cash, usually by credit card or check.
How it works
When you make a cash/check or credit card gift to Big Brothers Big Sisters of Central Mass/Metrowest today, we all benefit. For us, your generosity helps us to meet our most urgent needs and carry out our mission on a daily basis. For you, as the donor, your benefits include:
- The ability to choose how your gift is used
- The opportunity to see the results of your generosity immediately
- An immediate charitable deduction on your federal income taxes, when you itemize
Document Your Gift
For gifts by check of less than $250, a copy of the check is sufficient documentation. For a check of $250 or more, you should obtain a receipt from the charity. (When donating to BBBSCM/MW, you will receive an acknowledgement letter with receipt within a week. Please contact us if you do not receive one.) For online donations, you immediately will receive an acknowledgement email with receipt.
For other contributions (attending special events, etc.) make sure you receive a written acknowledgement of your gift. It needs to include:
- The amount of cash contributed
- Whether you received any goods or services in exchange for the donation
- A description and good faith estimate of the value of any goods or services you received in return
Figuring Your Charitable Deduction on your taxes
As a general rule, the maximum deduction for cash gifts is 50% of your adjusted gross income.
Mary makes a $1,000 cash gift to BBBSCM/MW. Mary's annual adjusted gross income is $45,000
Gift Amount: $1,000
Taxes Saved: (Mary’s combined state/federal marginal income tax rate (28%) x her gift amount $1,000) $280
Net Cost of Gift: (gift amount – taxes saved) $720