A Breath of Hope Lung Foundation is a best practice, 501(c)(3) tax-exempt organization that is 100% funded by philanthropy. All donations are tax-deductible to the full extent of the law.
Despite the pandemic and reduced giving in 2020, ABOH continues to offer program services, including national patient education classes and free groceries delivered to the doorstep of Minnesota lung cancer survivors and their families. Our U.S. research program is running at 100%.
We are fully committed to changing lung cancer outcomes through public education and awareness campaigns, support for lung cancer patients and their families, and funding for cutting-edge lung cancer research focused on late-stage treatments and early detection. To achieve our mission, we partner with individuals, businesses and other non-profit organizations who share our mission goals to improve the lung cancer survival rate. SCROLL BELOW FOR WAYS TO GIVE.
The Pandemic Stimulus Bill: How it benefits our donors
On March 27, 2020, the CARES (Coronavirus Aid, Relief and Economic Security) Act was passed to blunt the impact of the economic downturn caused by the global pandemic. The stimulus bill includes important benefits for some of our donors as they consider their charitable giving.
- Donors who make smaller gifts will be able to deduct them up to $300. Presently, only those who itemize their income tax deductions are able to use a charitable deduction. For the rest of 2020, an individual will be able to deduct up to $300, irrespective of whether or not they itemize their deductions. This “above the line” deduction can be used for contributions of cash only (not stock) to qualified charitable organizations. This benefits our donors who usually make smaller gifts through direct response or campaigns. If you have already given money since Jan. 1, that contribution counts toward the $300 cap.
- Our donors who make larger gifts will be able to deduct a much higher amount. Under current law, an individual may deduct up to 60% of their adjusted gross income (AGI) for charitable deductions of cash. The stimulus package lifts that restriction, so that an individual can make a gift of cash only (so once again, not stock) and deduct it up to 100% of their AGI for the year 2020. This means if you have $1 million of income, you can give $1 million to a public charity in 2020 and deduct the full amount. This is an election, so the donor who wants to use this provision must tell the IRS so. This is helpful for wealthier major donors; it could allow a person to make charitable gifts that eliminate their tax burden. Any contributions in excess of total AGI may be carried forward for up to five additional years, which is yet another benefit and planning tool. This may not be used to fund Donor Advised Funds or Supporting Organizations.
- Corporations have much greater incentives to make charitable gifts. Usually, corporate charitable gifts are limited to 10% of taxable income for the corporation. That limit has been increased to 25% of the taxable income, making charitable gifts much more attractive to many companies. A similar limitation on corporate giving of food inventory, currently limited to 15%, has also been boosted to 25%.
Other Ways to Donate
Circle of Light – An elite giving club where members pledge a $500 minimum for the calendar year and gain attendance to exclusive (and fun!) Doc Spot events throughout the year. You can join the 2020 Circle of Light to give it a try for one year!
Matching Gifts – Many companies offer programs that match charitable contributions from their employees at rates as high as 2 to 1 or even 3 to 1. If your company has a matching gift program, please contact our development department for help with the paperwork: Nancy@abreathofhope.org.
Named Research Grant – A Breath of Hope Lung Foundation’s “Named Research Grants” enable donors to fund part or all of a Research Fellowship in their name or in memory or honor of a loved one. For more information, call our office: 952-405-9201.
Donate securities – For more information, please email email@example.com.
IRA Charitable Rollover – see below
- If you are at age 70½ or older and are the owner of a Traditional IRA (or inherited Traditional IRA), and do not need all or part of your required minimum distribution, you can make tax-free IRA contributions directly to qualified public charities, such as A Breath of Hope Lung Foundation.
- Each age-eligible IRA owner can transfer up to $100,000 tax-free per tax year.
- Your IRA gift must be complete on or before December 31 of the calendar year in which you choose to utilize the IRA Charitable Rollover gift vehicle for tax purposes. Generally, if sent by US mail, the postmark determines the date of a charitable gift.
- The check must be made payable directly to A Breath of Hope Lung Foundation.
- You can only make outright gifts. The IRA Charitable Rollover cannot be used to fund life income gifts (such as charitable gift annuities or charitable reminder trusts).
Advantages of an IRA Rollover
- You can count your gift towards your annual required minimum distribution.
- Your distribution is not recognized as income on your federal income tax return, and therefore not eligible for a federal income tax charitable deduction.
- Under current federal tax laws, keeping your IRA distribution out of your adjusted gross income may save you taxes.
- The transfer process is quick and requires minimal paperwork. Your investment company can provide you with a form that is used to transfer the IRA funds directly to A Breath of Hope.
Will or Trust – A bequest is one of the most meaningful ways to make a gift to the A Breath of Hope Lung Foundation. Gifts of any size made through a bequest help ensure that the foundation receives valuable ongoing support. Donors can make a bequest by simply including a provision for A Breath of Hope Lung Foundation in their wills or trusts. And they can choose to give A Breath of Hope Lung Foundation a specific dollar amount or a percentage of their estates.
Bequests for A Breath of Hope Lung Foundation:
- Allow donors to make a generous gift while maintaining control of assets during their lifetimes.
- Can be designated for a specific program or can be unrestricted.
- Can be changed by the donor at any time.
- Will not be subject to estate tax.
To include a bequest for A Breath of Hope Lung Foundation in a will or trust, donors may wish to use the following sample language:
“I give [the sum, percentage] to the A Breath of Hope Lung Foundation, Wayzata, Minnesota, to be used [for the benefit of the foundation or _____ program] or [according to my written instructions* on file with the foundation].”
The foundation’s development staff can work with donors and their attorneys to customize this bequest language to ensure that it accurately reflects their wishes and that the A Breath of Hope Lung Foundation will be able to use their gifts as intended. For more information, contact our executive director, Nancy Torrison at the office: 952-405-9201.
Testamentary charitable remainder trust
Some donors may consider establishing a testamentary charitable remainder trust with a retirement account or other assets. The trust would begin at the donor’s death and can provide income for family members or others for life or a term of years. The assets remaining in the trust then pass to the charities the donor has designated.
Information on this website is not intended as legal or tax advice. For information on how any gift may affect your tax situation, please consult with your own professional adviser.
In-Kind/Tangible Gifts – Donate to the Bags, Bling and Beauty Silent Auction (Women’s Wellness Tea) or the Rest & Relaxation Silent Auction (A Breath of Hope Golf Classic). Our past silent auctions have featured items such as: Sports tickets, restaurant gift cards, hot air balloon rides, jewelry, hand-crafted gifts, tools, hotel stays/weekend getaways and private fishing excursions.
AmazonSmile – Amazon donates 0.5% of the price of your eligible AmazonSmile purchases to the charitable organization of your choice. When you shop at smile.amazon.com, you’ll find exactly the same shopping experience, with the added bonus that Amazon will donate to the organization you support.
Giving Assistant – Giving Assistant‘s mission is to transform the everyday shopping of millions of people into charitable actions that support nonprofits. How it works: Create a free account, then simply shop your favorite store online and earn cashback to designate to the nonprofit of your choice. Earn an average of 5.2% back on all purchases.
Services – Do you have a service to share with the A Breath of Hope Lung Foundation family? Maybe you work for, or own, a local restaurant or business? ABOHLF is always looking for creative ways to interact with the community.
Charities Review Council
- 2013 Note that 89 cents of each donor’s dollar goes straight to mission and programs!
- 2014 Note that 87 cents of each donor’s dollar goes straight to mission and programs!
- 2015 Note that 87 cents of each donor’s dollar goes straight to mission and programs!
- 2016 Note that 87 cents of each donor’s dollar goes straight to mission and programs!
- 2017 Note that 85 cents of each donor’s dollar goes straight to mission and programs! The rest pays for administrative and direct fundraising costs, such as technology, accounting, Gala expenses, etc.
- 2018 More than 80 cents of each donor’s dollar goes straight to mission and programs. The IRS requires 75 cents to program. We continue to seek ways to keep administrative costs low, while running a compliant and efficient nonprofit business.
- 2019 Note that 78 cents of each donor’s dollar goes straight to mission and programs!
990 Tax Forms
Thank you donors for your tremendous support!