April 6, 2020 - NFP CARES Act Webinar CARES Act Webinar - NFP - Final | Page 52

OTHER NFP PROVISIONS – CARES ACT
Above the line deduction for 2020 charitable
contributions up to $300 and relaxation of other
limitations (get the word to your Development people)
Increasing the Individual Adjusted Gross Income cap
from 50% to 65% (for itemized deductions)
Increasing the Corporate limitation to 25%of taxable
income
Pension plan funding relief
Student Loan Relief (can be an added nontaxable benefit)
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