artistic view of the Shirley Ryan AbilityLab building

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Tax-Wise Ways of Giving

Cash Gifts Now Treated Even More Favorably Due to Extension of Charitable Provisions in the CARES Act.

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In response to the devastating impact of the COVID-19 pandemic, last year national leaders passed the historic Coronavirus Aid, Relief and Economic Security (CARES) Act that provides financial assistance to individuals, businesses and not-for-profit organizations negatively affected by the crisis. As a result of the most recent stimulus package passed this March — the Consolidated Appropriations Act, 2021 — some provisions were extended into calendar year 2021, as described here.

To encourage charitably-minded individuals to increase support for the not-for-profit organizations they love, several sections provide incentives for making cash gifts in calendar years 2020 and 2021.

  • Donors can receive a charitable tax deduction of up to $300 individually and $600 for joint-return filers on their 2021 taxes, even without itemizing.
  • Donors who itemize may also continue to deduct up to 100% of their adjusted gross income for their gifts of cash. As always, donors may carry over any surplus for the next five years.
     

We hope you will consider making a gift this year to help us sustain our mission and vision during this period of ongoing COVID-19 surges and gradual recovery. Your unrestricted gift of cash will make an extraordinary impact at Shirley Ryan AbilityLab and may provide you with valuable tax benefits in 2021. For more information, please contact Julie Captain, Senior Director, Advancement, at 312.238.8083, or jcaptain@sralab.org.

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Gifts of Highly-Appreciated Stock

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If you have held stocks for more than one year, you may gift shares to Shirley Ryan AbilityLab, avoid paying any capital gain tax and possibly take a tax deduction for the current fair market value (up to 30% of the donor’s adjusted gross income).

To make a gift of stock, please download instructions below.

Donor-Advised Funds

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Many Americans have opened donor-advised funds (DAFs) to maximize their philanthropic impact to the charities they love and take immediate and full advantage of the tax benefits available to them, while also distributing their gifts to the charities they desire on the timeline they desire. If you are one of those donors, know that Shirley Ryan AbilityLab welcomes distributions of all sizes from DAFs.

Please send gifts from your donor-advised fund to:

Legal Name:
Rehabilitation Institute of Chicago d/b/a Shirley Ryan AbilityLab
355 East Erie Street
Chicago, Illinois 60611

Tax ID#: 36-2256036
 

Retirement Assets/Charitable IRA Rollover Gifts

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Often, individuals are surprised to see that the value of their retirement plans has grown substantially, and that the increased value can be used philanthropically. Now, donors can put their required minimum distribution to good use, while also avoiding payment of income tax on the withdrawal or the excise tax penalty for skipping.

For individuals, 70 ½ or older, donors can make direct, outright gifts from their IRAs to Shirley Ryan AbilityLab. Considered "Charitable IRA Rollover" or “Qualified Charitable Distribution” gifts, these transfers are easy for donors. Simply contact your IRA custodian to authorize your rollover gift, up to $100,000, per nonprofit organization. Donors avoid paying income tax on the withdrawal from their IRA account, and therefore, are not eligible for a charitable gift deduction.

Distributions of up to $100,000 must be made directly from a traditional IRA account to Shirley Ryan AbilityLab, i.e., the distribution cannot first be placed in a “donor-advised fund,” supporting organization or life-income gift. Also, gifts from 401(k), 403(b), SEP and other plans do not qualify. 

For assistance, please contact Julie Captain, Senior Director, at 312.238.8083 or jcaptain@sralab.org.  

Legal Name:
Rehabilitation Institute of Chicago d/b/a Shirley Ryan AbilityLab 
355 East Erie Street
Chicago, Illinois 60611

Tax ID#: 36-2256036

Retirement assets also make excellent assets to gift Shirley Ryan AbilityLab through your estate. Please visit our Leave a Legacy page to learn more.

This information is provided as general, educational information and should not be construed as legal advice. Please check with your attorney on how these topics apply to your personal situation.
 

Monthly Giving

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Join Our Monthly Giving Club! 

Monthly Donors enjoy:

  • Convenience: Your monthly gift is charged to your debit/credit card automatically and can be changed or canceled at any time. 
  • Predictability: Your philanthropy to Shirley Ryan AbilityLab is now a part of your monthly budget, which allows you to give on a predictable schedule.
  • Maximum Impact: By giving monthly, it is easier to give more per year — and over your lifetime — which makes a bigger impact on our community.
  • Inside Access to Shirley Ryan AbilityLab: Members of our Monthly Giving Club receive print and digital issues of Insider News, event invitations and more.

By giving what you can each month, your contributions add up to make a greater impact! To join, please visit [insert hyperlink].

For assistance, please contact Julie Captain, Senior Director, Advancement, at 312.238.8083, or jcaptain@sralab.org.

Other Giving Opportunities

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