St. Teresa's Academy students, alumnae, parents, and friends have a long-standing tradition of giving back to the school that has helped young women build successful futures. Please continue to support St. Teresa's Academy and our mission to educate young women in a Catholic, independent, college preparatory high school setting. Your generosity will make a difference in the lives of the young women of St. Teresa's Academy, both today and in the future.
Thanks to the CARES Act, donors like you may qualify for new tax advantages. When you support the premier Catholic, college-preparatory education offered to young women at St. Teresa's Academy, you can benefit from recently announced tax deductions.
- New $300 Deduction: Individuals who take the standard deduction can claim an above-the-line tax deduction for cash donations to qualified charitable organizations, up to $300.
- 60% of Adjusted Gross Income (AGI) Limit Suspended for 2020: For gifts made in 2020, individuals who itemize deductions can deduct up to 100% of charitable contributions. Deductions for cash donations were previously limited to 60% of the taxpayer’s adjusted gross income.
- Corporations’ 10% Limit Increased to 25%: For the 2020 tax year, corporations can deduct up to 25% of the taxpayer’s taxable income for any cash contributions made to qualified charitable organizations. Deductions for cash donations were previously limited to 10% of the taxpayer’s taxable income.