Swim Across America is finding ways to continuing supporting local beneficiaries during this challenging time. Local leadership has been donating meals to selfless healthcare workers at our beneficiary institutions as they continue putting themselves at risk to serve and protect all of us during this crisis. Our unwavering commitment to support our beneficiaries remains, and now more than ever we stand by each of them.
Swim Across America – Houston treated the Pediatric and Brain & Spine Teams at MD Anderson Cancer Center to lunch as a way to express their sincerest appreciation for their service.
A big thumbs up from Dr. Becerra after the Swim Across America – Dallas team brought “Taco Tuesday” to the staff of the Swim Across America Innovative Clinical Trials Center at Baylor Scott & White Health.
SAA – San Francisco Bay provided their beneficiary and partners UCSF Benioff Children’s Hospitals with a nutritious breakfast last week to thank them for their continued efforts in supporting the Survivors of Childhood Cancer Program. Thanks to our friends Checkers Catering & Special Events for providing the scrumptious breakfast to these Capeless Heroes!!
Swim Across America – Atlanta had Chick-Fil-A cookies dropped off for the past and present medical staff who have been funded by Swim Across America to show our appreciation for all of their hard work. They returned the love with some fun photos with their cookies.
Swim Across America – Long Island Sound has been busy reaching out to their beneficiaries and scheduling these meal drop-offs. The SAA – LIS team brought breakfast to the nurses at the front line in the Urgent Care Unit at Memorial Sloan Kettering. They also provided lunch to the ICU team at NY Presbyterian Hospital.
A huge thank you to all healthcare workers for your courage and unselfish commitment to patients and the communities you serve!
CARES Act for Nonprofits – On Friday, March 27, Congress passed and the President signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a $2 trillion economic stimulus package legislated to provide immediate relief for nonprofits. You can help give families affected by cancer hope when you make a donation to Swim Across America.
The inclusion of an expanded charitable giving incentive is a critical acknowledgement by Congress that the work of nonprofits like Swim Across America are essential services. Indeed, cancer isn’t taking a break and our mission continues to be critical as we raise funds and provide grants to our world-class beneficiaries. It is the first time Congress has passed this type of giving incentive in response to disaster or national emergency.
Here Are The Highlights
IMPORTANT: New Deduction Available: Up to $300 per tax filing in annual charitable contributions. It is an “above the line” adjustment to income that will reduce a donor’s adjusted gross income (AGI), and thereby reduce taxable income. This is particularly beneficial to people who take the standard deduction when filing their taxes (in other words for taxpayers who do not itemize their deductions). A donation to a donor advised fund (DAF) does not qualify for this new deduction.
New Charitable Deduction Limits: As part of the bill, individuals and corporations that itemize can deduct much greater amounts of their contributions. Individuals can elect to deduct donations up to 100% of their 2020 AGI (up from 60% previously). Corporations may deduct up to 25% of taxable income, up from the previous limit of 10%. The new deduction is for gifts that go to a public charity, such as Swim Across America. The old deduction rules apply to gifts to private foundations. The higher deduction does not apply to donations directly to a DAF.
If your assets are substantial enough that you can give more than your income this year, you won’t lose the deduction for the excess amount. You can use it next year, as has always been the case.
Required Min. Distributions Waived in 2020 for Most Donors: RMD for individuals over age 70 ½ are suspended until 2021. This includes distributions from defined benefit pension plans and 457 plans. The RMD is an attractive way for donors to make a significant charitable gift directly from their IRA to a charity through a qualified charitable contribution (QCD) while avoiding taxable income. The suspension of the RMD may dampen somewhat the incentive for a donor who makes a gift from their IRA to count toward that minimum. However, the tax benefit of the QCD remains.
The takeaway – donors directing a QCD to charity this year (up to $100,000 per individual) will still reduce their taxable IRA balance. This allows all taxpayers, itemizers and non-itemizers alike, to direct gifts from their IRA to charities in a tax efficient manner.
If you have questions or would like assistance making a donation, you can contact us at email@example.com
This information is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results.
Speedo USA and Swim Across America have teamed up to donate 2,000 goggles to Swim Across America hospital beneficiaries. The goggles are offered as protective eyewear to hospital medical staff.
“Our hospital partners shared a need for protective eyewear so we reached out to Speedo USA to see if they might be able to help,” commented Rob Butcher, Swim Across America CEO.
“Many of Speedo’s athletes support Swim Across America so when we were approached with the need and that we could help, we were delighted to do so,” shared Andy Long, CEO of Pentland Brands.
Swim Across America hosts charity swims with the proceeds funding cancer research. If you feel inspired, you may donate to Swim Across America through this link.
In 1987, an inaugural charity swim was hosted across Long Island Sound that raised $5,000 for cancer research. Since then, Swim Across America charity swims have granted nearly $100M that has funded innovative cancer research and clinical trials. Swim Across America grants have played a major role in the development of immunotherapy, detection, gene therapy and personalized medicine. The impact is that families who hear “you have cancer” are more than ever hearing “there is hope.”
In 2020, Swim Across America will be awarding a record $6 million in cancer research grants that will fund more than 50 projects and programs at the following beneficiaries: Alliance for Cancer Gene Therapy (Connecticut), Baylor Scott & White Sammons Cancer Center (Dallas), Cancer Support Team (Westchester, NY), RUSH University Medical Center (Chicago), Children’s Healthcare of Atlanta, Cold Spring Harbor Laboratory (New York), Columbia University Medical Center (New York), Dana- Farber Cancer Institute (Boston), Feinstein Institute for Medical Research (New York), Medical University of South Carolina Hollings Cancer Center (Charleston), Johns Hopkins Sidney Kimmel Comprehensive Cancer Center (Baltimore), Johns Hopkins All Children’s Hospital (Tampa), Atrium Health Levine Cancer Institute (Charlotte), MassGeneral Hospital for Children (Boston), MD Anderson Cancer Center (Houston), Memorial Sloan Kettering Cancer Center (New York), Moffitt Cancer Center (Tampa), Nantucket Cottage Hospital, Palliative and Support Care of Nantucket, Siteman Cancer Center (St. Louis), Seattle Cancer Care Alliance, UC Benioff Children’s Hospitals (San Francisco and Oakland), Children’s Hospital Colorado (Denver), University of Michigan Rogel Cancer Center (Detroit), VCU Massey Cancer Center (Richmond) and Women and Infants Hospital (Rhode Island).
In addition to these grants that are being funded by Swim Across America charity swims within their community, Swim Across America is awarding $120,000 in grants to the Conquer Cancer Foundation (American Society of Clinical Oncology—ASCO) and the American Association for Cancer Research (AACR) that will fund young investigators who have promising ideas to fight cancer.
For more information, please visit swimacrossamerica.org
Swim Across America and United Airlines are partnering for United’s “Miles on A Mission” program where United MileagePlus members can give back to charities by donating their airline miles. Check out their promotional video for the program here.
When donating to SAA, your miles will be used to cover travel for special guests attending Swim Across America charity swims. The miles will be used to offset travel costs we would have otherwise paid for, meaning more money can be granted to beneficiary hospitals.
The campaign will run until November 22 or until we reach our goal set at 250,000 miles. Help us reach our goal and take our impact further. Please share with friends and family for the biggest impact.
Ready to donate miles? Click here: bit.ly/SAAMilesonaMission
The 8th annual Value Based Cancer Care Summit brought together more than 300 thought leaders in academic, government, pharmaceutical and biotech. Change and innovation are happening at a fast pace in the field of healthcare and especially oncology. The purpose of the two-day summit was to create an active dialogue among the stakeholders in oncology care that ultimately will improve the quality of patient care.
Swim Across America, which has granted over $80 million dollars into cancer research, clinical trials and prevention, was selected as the beneficiary for the summit. Several of the oncologists shared during panel discussions the importance of Swim Across America’s early stage grant funding and how SAA’s funding has helped lead to breakthroughs and FDA approvals of new immunotherapy treatments.
In a personal testimonial, Dr. Jedd Wolchok of Memorial Sloan Kettering Cancer Center eloquently shared that SAA grant funding has helped numerous young investigators move forward their research ideas, many of whom are immigrants and are the pioneers in immunotherapy and personalized medicine.
Olympian and SAA ambassador Rowdy Gaines attended the summit giving a keynote talk about the 1980 Olympic boycott and how he persevered against the odds to win three gold medals at the 1984 Los Angeles Olympic games. Rowdy also shared how cancer has touched his life, losing his stepfather and sister to the disease.
The evening reception was attended by the Swim Across America Board of Directors, Olympians Steve Lundquist and Craig Beardsley, and the leaders from our SAA-Long Island Sound and SAA-Fairfield County charity swims. The reception was dedicated to Swim Across America as we shared stories from survivors, volunteers, and participants.
It was an honor for Swim Across America contributions to be recognized and it was meaningful to be part of these important discussions as we strengthened our relationships and lifted our goodwill.