Mercy Emergency Relief Fund supports University community
As communities adapt to the new realities that come with the spread of the coronavirus, the Salve Regina community — be it staff, faculty, students, parents of students or alumni — is committed to the mercy mission as the University navigates these uncharted waters.
Faculty and staff are working tirelessly to ensure that students’ virtual experience through remote learning will be academically and socially engaging, and alumni have extended themselves to collaboratively assist with these efforts.
The University recognizes that these unanticipated and unusual circumstances may leave students, their families and the University with unprecedented financial challenges. The Mercy Emergency Relief Fund was established several years ago as a way to support the Salve Regina community and the University in times of need due to extraordinary circumstances.
At this time, President Kelli J. Armstrong will utilize the Mercy Emergency Relief Fund to support the many efforts under way on behalf of our students and the University that have arisen from the global pandemic.
Reminded of Catherine McAuley, foundress of the Sisters of Mercy and who dedicated her life to reaching out to those in need, the University is proud to be a part of this wonderful community where compassion and concern for others are always present and which has grown even more important through this current worldwide crisis.
Give to the Mercy Emergency Relief Fund
Special Announcement: Coronavirus Aid, Relief and Economic Security (CARES) Act (H.R. 748)
Salve Regina is grateful for these two temporary charitable giving incentives passed by the government:
Temporary universal charitable deduction: Allows non-itemizing taxpayers to deduct up to $300 in charitable gifts of cash for 2020. Gifts to donor-advised funds, supporting organizations not permitted. Currently, only itemizing taxpayers can deduct charitable gifts (10% of taxpayers), so this would allow all non-itemizing taxpayers to benefit from a modest charitable deduction.
Temporary suspension of AGI limitations: Temporarily suspends the adjusted gross income (AGI) limitations on gifts of cash to charity to 100% for 2020. Currently, taxpayers can deduct up to 60% of their AGI in cash gifts annually. Suspension of AGI limitations does not apply to gifts to donor-advised funds and supporting organizations. For corporations, 10% limitation is raised to 25% of taxable income.