Doctor in PPE with text "using the cares act to make your impact"

Using the CARES Act to Make Your Impact

At the MCV Foundation, donors like you have encouraged and inspired us over the past several weeks.

While we have been heartened, we have not been surprised that you have selflessly given resources, ideas, time, supplies and food to help the front-line VCU Health care providers and researchers fight for our neighbors and family members every day.

Understanding the immense national need for philanthropic support at hospitals and nonprofits, Congress included several provisions in the recent CARES Act (Coronavirus Aid, Relief, and Economic Security) to encourage giving.

These provisions allow for temporary charitable tax deductions for those who take the standard deduction and those who itemize deductions. In addition, the new law temporarily suspends the requirements for required minimum distributions (RMDs) from IRAs.

To learn more about how the CARES Act can affect you and your charitable goals, explore the information in this PDF or on the MCV Foundation giving page.

We know you have many avenues available to continue or begin lending a helping hand. Gifts have poured in for the VCU Health COVID-19 Response Fund, established at the MCV Foundation and used exclusively to deal with COVID-19 issues facing Richmond and Central Virginia, including direct patient care, research and support for medical staff and health sciences students. In April, VCU announced an anonymous donor made a $1 million gift to the VCU Health System, and that donor issued a challenge to the Central Virginia, VCU Health and MCV Campus communities to consider contributions at any level.

Thank you for being a part of our community and for understanding the importance of innovative healthcare, especially in the extraordinary times we’re all facing together.

As you and the rest of our community continue to help one another by contributing the very best that each has to offer — as individuals, businesses, congregations and other groups — we are confident that we will overcome these difficult times and that better days await.