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'Big beautiful bill' changes the tax code on charitable giving
CNBC Television· 2025-07-09 13:44
Charitable Giving Trends - Charitable giving as a whole increased to a record $590 billion last year [1] - Tax changes could cause a big shift in who gives and how much [1] Tax Law Impact - New charitable deduction for those who take the standard deduction, up to $1,000 for individuals and $2,000 for married couples [1] - Itemizers, mainly the wealthy, will exempt the first 0.5% of their gross income from their charitable deduction [2] - Those in the top tax bracket can claim only a 35% tax deduction for charitable gifts rather than the current 37% [2] - Changes will reduce overall giving by more than $8 billion, according to some estimates [3] Predictions - Supporters say the changes will encourage more giving by everyday Americans [3]
'Big beautiful bill' changes the tax code on charitable giving: Here's what to know
CNBC Television· 2025-07-09 11:50
Charitable Giving Landscape - Charitable giving reached a record $590 billion in the past year, primarily driven by stock market wealth [2] - Tax changes could cause a significant shift in who gives and how much [2] Tax Law Changes - New charitable deduction of up to $1,000 for individuals and $2,000 for married couples taking the standard deduction [3] - Itemizers, mainly the wealthy, will not be able to deduct the first 0.5% of their gross income given to charity [3] - Deduction limits for those in the top tax bracket allow claiming only a 35% tax deduction for charitable gifts, down from 37% [4] Impact Assessment - Supporters believe the changes will encourage more giving by everyday Americans [4] - Others estimate the changes will reduce overall giving by more than $8 billion [4]
GivBux Announces Approaching Ex-Dividend Date for Special Warrant Dividend
Globenewswire· 2025-05-21 17:11
Core Viewpoint - GivBux, Inc. announces a special warrant dividend, allowing shareholders to purchase additional shares at a set price, reflecting the company's commitment to long-term value and growth in the fintech and charitable sectors [1][4]. Group 1: Special Warrant Dividend Details - The ex-dividend date for the special warrant dividend is June 5, 2025 [1]. - Shareholders will receive warrants on a 1-for-10 basis, enabling them to purchase one share of common stock for every ten shares owned, at an exercise price of $4.00 per share [2]. - To qualify for the warrant distribution, shareholders must purchase GBUX stock by June 4, 2025, with warrants distributed electronically on June 5, 2025 [3]. Group 2: Company Overview and Strategy - GivBux operates a Super App that facilitates shopping at over 100 national retailers and local merchants, offering cash back on purchases, part of which can be donated to charities [5]. - The app is free to use and is available on both Android and iOS platforms, continuously evolving with new features such as social networking and e-commerce [5]. - The company aims to build a large community of givers, starting in the United States and expanding globally [6].
Make-A-Wish and Chase Renew Partnership to Make Travel Wishes Come True for Children Facing Critical Illnesses
Prnewswire· 2025-03-20 12:00
Core Insights - Make-A-Wish has renewed its partnership with Chase, with Chase contributing $3 million in a combination of cash and Ultimate Rewards points to support travel wishes for children with critical illnesses [1][4] - Over 150 million Ultimate Rewards points have been utilized to grant more than 300 wishes since the partnership began in 2024 [1] - Make-A-Wish requires over 2.8 billion miles annually to fulfill travel wishes, equivalent to 50,000 round-trip tickets [1] Make-A-Wish Overview - Make-A-Wish creates life-changing wishes for children with critical illnesses and has granted over 615,000 wishes globally since its inception in 1980, with more than 390,000 in the U.S. [5] - The organization operates in all 50 states and relies on a network of over 20,000 volunteers and generous donors to deliver hope and joy to children and families [5] Chase's Role - Chase's ongoing support allows Make-A-Wish to provide transformative travel experiences, which can significantly improve the emotional and physical health of children facing critical illnesses [3][4] - Chase Travel Group, part of JPMorgan Chase, offers a platform for cardmembers to donate Ultimate Rewards points to support Make-A-Wish, enhancing community engagement [4][6] - Chase serves a broad customer base, including 84 million consumers and 7 million small businesses, providing various financial services [6]