KGI continues to plan for current and future students and faculty and their individual needs. We are committed now more than ever to continue to move forward with activating the generosity of philanthropy for our institution.

This page offers resources to help you with your tax planning and to offer additional options to traditional donations if you are considering supporting KGI’s continued mission to enrich society with breakthrough approaches to education and translational research in the life sciences.

CARES Act

This recently passed law includes several charitable tax provisions to encourage giving. These include:

  • A new deduction for charitable donors who do not itemize when filing their tax returns. If you do not itemize but make a cash gift to charity, you will be allowed to take a special tax deduction, up to $300 (per taxpayer unit), to reduce your tax liability.
  • An increase in the deduction limit up to 100% of a donor’s annual income for cash gifts (previously the deduction was capped at 60% of annual income). If you make a gift you will be able to deduct more this year.

CARES Act pdf

Donor Advised Funds

If you have a Donor Advised Fund (DAF) and wish to help us this year, you can make a gift from your DAF to support our work without affecting your personal financial security.

Charitable Gift Annuity

If you are concerned about your financial security given the ups and downs of the stock market, you may want to consider making a gift to fund a charitable gift annuity. You may also benefit from a tax deduction this year and a portion of your payments could be tax-free.

Restricted Gifts

If you have already made a gift to support KGI and your gift is restricted to a particular project or purpose, we would like to ask you to consider contacting us to remove your gift restrictions. This is an easy way for you to help us meet our current, most pressing needs, which will allow us to continue to support our staff and meet overhead expenses during this time.

Removing a gift restriction will give us flexibility to put your gift to meet critical needs and it doesn’t require any additional gift from you.

Secure Act

In December, Congress passed the SECURE Act, limiting stretch payments to IRA beneficiaries to 10 years. If you planned to benefit your children with your IRA, your heirs will now pay higher taxes on the inheritance they receive from you. When you revisit your estate plan, consider funding a testamentary charitable remainder unitrust with your IRA balance. This plan can provide lifetime payments to your heirs and spread out the taxes on their inheritance.

If you are interested in learning more about any of these ideas, please contact Kelly Esperias at kelly_esperias@kgi.edu.