With the new changes to tax laws, you may no longer benefit from itemizing your deductions due to state and local tax deduction limits ($10,000/ year) and the doubling of the standard deduction (now $12,000 for individuals and $24,000 for married couples). However, if you normally give to one or more non-profits each year and want to continue to support them, you may be able to receive a tax benefit under the new law by "bunching" your charitable contributions for two years in a single year, when you will itemize deductions. In the following year, you will make no (or small) charitable contributions and claim the standard deduction. By doing this, you will have more deductions over the two-year period than you would if you made the same charitable contribution amount in each of the two years. The chart below illustrates how this works. It shows, with the assumed amounts of state and local taxes, mortgage interest and charitable contributions, that total deductions are increased by $5,000, from $48,000 to $53,000, over the two-year period by bunching the charitable contributions for the two years in a single year.
The Marshfield Area Community Foundation, Inc. is celebrating its 25th Anniversary this year. Explore Marshfield will present 25 videos highlighting how we have helped to fullfil our mission to "improve the quality of life inthe Marshfield area". Please take a look at all the wonderful things we've been involved in!
Cole Family Music Fund Invites Proposals Non-profit performing arts groups in Central Wisconsin are invited to submit proposals for grants from the Cole Family Music Fund through the Marshfield Area Community Foundation, Inc.
The Marshfield Area Community Foundation established the annual Anne Adler Community Service Award in 2010. This Award was created to honor Anne Adler and her dedication to the Marshfield Area Community Foundation. Bette Adler passed away in 2016 and we decided to honor both of the Adler sisters for their work with this award. The award is given to someone who significantly contributes to the quality of life in the Marshfield area. It is the mission of the Marshfield Area Community Foundation to " connect people who care with the causes that matter to enrich the quality of life in the Marshfield area". The eighth Annual Award is given to Paula Jero in recognition for her work with the community.