List of 10 frequently asked questions.

• - The Cares Act and Charitable Giving

  The Coronavirus Aid, Relief, and Economic Security Act—or CARES Act—signed into law on March 27, 2020, includes several provisions of particular interest to individuals who may be considering charitable donations in the tax year 2020. 

  
  

  Some highlights of those changes are noted below. However, you should always discuss this with your professional advisors to determine their applicability to your individual tax situation:

  
  

  100% of AGI limit available for cash gifts to most public charities: For the 2020 tax year, individuals may deduct cash gifts to public charities in an amount up to 100% of their adjusted gross income (AGI). The previous cap was 60%. Gifts to donor-advised funds (DAFs) are not eligible for this special election. Were you considering a larger gift to CSW? This one-year adjustment to the tax code might be the opportunity you were looking for. It materially increases the amount that is deductible relative to your income providing an additional incentive for philanthropy in 2020. 

  
  

  Non-itemizers are now eligible for a $300 charitable deduction: A reduction in taxable income is available in 2020 for individuals who do not itemize their deductions. It is an “above-the-line” deduction from taxable income for cash gifts to public charities and is limited to $300 per taxpayer. It is not available for gifts to DAFs. 

  
  

  What about qualified charitable distributions from an IRA? The CARES Act did not change the rules around the Qualified Charitable Distribution (QCD), which allows individuals over 70½ years old to donate up to $100,000 in IRA assets directly to charity annually, without taking the distribution into taxable income. You will not be taxed on a 2020 qualified charitable distribution made.  For some donors, this continues to be an effective way to give in 2020 and beyond.

• - Cash Contributions

  Direct cash gifts are the most common form of giving and can be unrestricted or designated. Gifts through the Annual Fund can be allocated to CSW’s greatest needs, scholarship, faculty or athletics. Gifts can also be restricted to a specific project, program or department. Cash gifts may be made outright or used to fund a life income vehicle; they are tax-deductible to the full extent permitted by law.

  
  If you wish to mail your gift, please send a check made out to The Cambridge School of Weston to:
  
  

  Development Office

  The Cambridge School of Weston

  45 Georgian Road

  Weston, MA 02493

• - Credit Card Gifts/Pledges by Phone

  You can make your gift or pledge online via credit card 24 hours a day on our website.  You can also call 781-642-8645 during business hours and we’ll process your gift securely.

• - Securities

  Outright gifts of appreciated securities (stocks, bonds, mutual fund shares) are tax-deductible at full fair-market value if the donor has owned the asset for at least 12 months. To avoid capital gains taxes, you must provide the securities themselves, not the proceeds of their sale.
  
  

  Gifts of closely held stock (usually stock in a family-owned business) also carry benefits for the donor. The stock must have been held for at least 12 months for you to claim a charitable deduction at full fair market value. If the deduction exceeds $10,000, a qualified appraisal is required for tax purposes.

• - IRA Transfers

  If you are 70 and 6 months years of age or older, you can make a gift directly from your IRA to CSW and it will count against your minimum required distribution.

• - Matching Gifts

  More than 1,000 corporations, foundations and other organizations will match their employees's charitable contributions either dollar-for- dollar, or at a ratio of 2-to-1, 3-to-1 or even 4-to-1. Contact your Human Resources Office to find out if your gift to CSW can go further with a matching gift!

• - Gifts of Stock

  A donation of securities and closely held stocks is another way to make a sizable charitable contribution to CSW, while realizing valuable tax benefits. 
  
  The necessary account information is as follows: 
  J.P. Morgan Clearing Corp. 
  50 Rowes Wharf, 4th Floor
  Boston, MA 02110 
  
  Account # at J.P. Morgan is 052-12623 
  DTC # is 0352 
  CSW's Tax ID# is 04-2103964 
  
  The school's contact person at JP Morgan is Cassidy Small, who can be reached at 617-654-2008 or at cassidy.small@jpmorgan.com.

• - Payroll Deduction for CSW Employees

  CSW faculty and staff can sign up to have a gift deducted from their pay checks. Please fill out the Annual Fund Payroll Deduction Form and return to development@csw.org.

• - Domestic Wire Transfers

  When a wire is being sent by domestically for Credit to an account at Eastern Bank, wire transfers should be routed to:

  
  Eastern Bank
  ABA Routing #0113-017-98

  
  Please provide the sending financial institute the following information pertaining to the beneficiary’s account held with Eastern Bank:

  
  The Cambridge School of Weston Inc.
  Account Number: 57732744
  45 Georgian Road
  Weston MA 02493

• - International Wire Transfers

  When a wire is being sent internationally to an account at Eastern Bank, funds may be sent to Eastern Bank via SWIFT, with the following information:

  
  Bank Name: Eastern Bank
  Address: 195 Market Street Lynn MA 01901
  Swift Address/BIC: EASRUS3B
  ABA: 011301798 (if needed)
  The Cambridge School of Weston Inc.
  Account Number: 57732744
  45 Georgian Road
  Weston MA 02493
  
  

  For the cost of wire transfers, please refer to your bank's fee schedule. If you have any further questions, please contact the wire transfer department directly at 781-596-8002.