Maine Day of Giving was a great success! Although we are still counting gifts that arrived in the mail, our total so far stands at over $766,000! What a great way to come together from near or far to celebrate our wonderful Maine Day tradition.
Bigger Charitable Tax Breaks For 2021 Under Second CARES Stimulus Package
On December 27, 2020, when Congress passed a second stimulus package to combat the effects of the global COVID-19 pandemic, it included two measures to boost charitable contributions:
For those who don’t itemize: The December stimulus package extended and expanded the above-the-line charitable deduction available to non-itemizers who make cash gifts. For 2021, single donors will be able to take a $300 deduction and married donors filing jointly can take $600. (The amount allowed for 2020 was $300 per tax return.) These deductions are in addition to the standard deduction amount available to the donor.
For those who itemize: The package also helps generous donors who itemize. In 2020, and now in 2021, the deduction limit for cash gifts has been increased to 100% of adjusted gross income (up from 60%). Note: For corporations, the annual limit has been increased from 10% to 25% of taxable income for 2020 and 2021.
Creating Planning Documents During A Pandemic
We face uncertain and chaotic times. Perhaps, we also have more time on our hands given our efforts to observe social-distancing guidelines or shelter-in-place-orders. Whatever the exact reason, Google has reported that more people are searching for information about how to create a will than ever before. There has also been an increased interest in preparing lifetime documents such as advance health care directives and powers of attorney.
University of Maine Foundation President Jeffery Mills announced the receipt of a $100,000 gift today to kick off the annual Maine Day of Giving event led by the Foundation. Donors Joe and Sue Cyr of Old Town have provided $50,000 to name a biomedical engineering prep...
The William S. Cohen Institute for Leadership & Public Service at the University of Maine has received over $110,000 in gifts since the start of the fiscal year from alumni, parents and friends of UMaine. “These investments in the Cohen Institute ensure that we...
Members of the Class of 2021 are upholding the longstanding tradition of giving back to support future Black Bears.
Jane Stevens '21, Nursing, UMaine Women's Soccer
“I hope others will consider joining me, as the University of Maine strives to create an optimal student experience with the help of the current and future alumni. I am very grateful for the opportunities the University of Maine has given me as a student-athlete. By giving back I hope to inspire others to donate to ensure that future Black Bears are able to make the most of their time in Orono”!
Blanca Millan '21, Kinesiology and Physical Education, UMaine Women's Basketball
“UMaine has and will forever hold a special place in my heart. As my time at Maine is coming to a close, I understand the importance of giving back so others following behind me can have the same special experiences that I had. I’m asking others to join me in making a gift to UMaine so future generations of Black Bear athletes have the same amazing opportunities that I did while here as a student-athlete.”
When Sierra Thibodeau came to UMaine from Lawrence High School in Fairfield as a first-year chemical engineering student, she already knew something about the paper industry: her father is a longtime employee at Sappi’s Somerset Mill in Skowhegan. Today, she is back...
Katie Dube - Class of 2020Katie Dube began her college career at the University of Maine as a way to help students in Maine, especially students in middle school. Dube grew up in Arundel, Maine, and is the first person in her immediate family to attend UMaine. In...
Jamie Sargent - Class of 2020Jamie Sargent began her studies at the University of Maine in the nursing program. After growing up in Scarborough watching her mother cope with chronic back pain, Sargent was inspired by the nursing staff who helped her mother during...
Ryan LaGross - Class of 2020When Ryan LaGross is not in his zoology classes at the University of Maine, he can be found painting, working as a Maine Learning Assistant (MLA) in biology classes, an undergraduate student assistant in chemistry classes, volunteering at...