Where the Money Goes...
Our founder covers all operating costs so 100% of your donation goes directly to support children in need.
FundEd Chicago CARES
was signed into law on Friday, March 27, 2020. The $2 trillion economic stimulus bill’s goal is to provide immediate relief for individuals, nonprofits, businesses, and state and local governments.
FundEd is a 501c3 nonprofit and under the CARES Act, all taxpayers (both those who itemize and those who use standard deduction) can deduct $300 in charitable giving to public nonprofits in 2020 (before the CARES Act, those who used standard deduction could not deduct any charitable giving). For those who itemize their taxes, the CARES Act significantly raises the amount of charitable giving deductible from 60% of filers’ adjusted gross income (AGI) to 100% of AGI.
It is more financially advantageous than ever to contribute FundEd. If you are in a position to donate during this time, your contribution will help us ensure students from families impacted by this pandemic can continue to receive the same level of support they received before.
FundEd Chicago recognizes that our world is dealing with a new reality that has caused a significant economic and academic impact. As effects are becoming increasingly clear, students need access to specialized supports now more than ever.
We have launched the FundEd Chicago Cares Emergency Educational Assistance Fund to help families who have experienced unexpected financial impacts due to the Coronavirus pandemic. FundEd Chicago Cares is a program specifically designed to help offset economic losses created by the Coronavirus and provide direct financial assistance and essential specialized services to students struggling during remote learning.