#TheAcademyMatch
a HUGE thank you...
to Academy Mortgage and ALL who participated in #TheAcademyMatch raising nearly $580,000 in the fight against homelessness! #letsgobuild
What is #TheAcademyMatch?
Academy Mortgage Corporation has generously pledged to match each dollar donated to HomeAid Utah up to $500,000 from now until September 1st, effectively doubling the value of cash donations from other companies and the public.
Why does Academy Mortgage support HomeAid Utah?
“Emergency and transitional housing gives people hope for a better future where the possibility of having a safe place for themselves and their families becomes a reality.” – Adam Kessler, Chairman of the Board, Academy Mortgage
When and How can you get involved?
Now! Our immediate goal is to raise every dollar needed to maximize #TheAcademyMatch. Donations can be made HERE. In addition to the doubling benefit of #TheAcademyMatch AND the multiplying effect of HomeAid through the homebuilding industry, the CARES ACT provides for greater tax deductibility of cash contributions made to HomeAid Utah during 2020.
For donors who do not itemize deductions, they may subtract up to $300 worth of contributions from their gross income (considered an above the line deduction), thereby reducing their taxable income.
For donors who do itemize deductions (likely the majority of donors) the amount is increased from 60% of adjusted gross income (below the line) to 100% of adjusted gross income.
For corporations the amount has been increased from 10% to 25% of taxable income.
These rules only apply to cash contributions and not donations of stock or in-kind donations.
