The M&M Area Community Foundation (MMACF) announced today it is stepping up efforts to build community support and solicit donations to its recently activated Impact Fund. The Fund’s purpose is to provide financial support to local nonprofits whose resources are strained by the impact of the Coronavirus (COVID-19).
“The need is real, and the Foundation is positioned to help,” said Dan Ward, MMACF Board President. “As a community foundation our Board believes it has a responsibility to support the good work of other community groups whose resources are stretched or impeded by the impact of this virus.”
The Community Foundation’s Impact Fund was activated to foster a unified philanthropic response and make grants to nonprofits throughout Marinette and Menominee Counties who are struggling to maintain their mission in this crisis environment.
“The need is there,” said Paula Gruszynski, MMACF Executive Director. “I am hearing from area nonprofits daily and they are looking for help. Our Board has made a commitment and I am hoping others with resources to share will do the same. It is gratifying to know the Foundation is in a place to help at such a critical point in time,” she concluded.
The MMACF Board of Directors seeded the Impact Fund with $20,000 and is anticipating the fund will grow as more people learn about the Coronavirus Aid, Relief, and Economic Security (CARES) Act. T
his recently enacted legislation provides new and expanded charitable contribution parameters for the 2020 tax year. This law allows those filing tax returns that do not itemize expenses to deduct up to $300 in cash giving, on their individual tax returns. For those that itemize, the bill lifts the cap on annual giving from 60% of adjusted gross income to 100%. The law also allows for increased corporate giving.
Community members and businesses who would like to contribute to the Impact Fund for COVID-19 Relief may contact Paula Gruszynski at 715-340-6567 or paula.gruszynski@mmacf.org. Donations may be mailed to the MMACF at 1110 10th Avenue, Suite L-1, Menominee, MI 49858 or made online at mmacf.org/donate
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