Checks Are Coming, How Will You Spend Yours?

As part of the stimulus package, the US government is expected to send out checks of up to $1,200 to many Americans:

  • Individuals with adjusted gross incomes of up to $75,000 per year are expected to each get a $1,200 check. The payment phases out in size and then ends altogether if your income is more than $99,000.
  • Married couples earning up to $150,000 would get $2,400, and families with children could get up to $500 per child, too (an amount that also phases out based on income).

The income figure used will likely be based on either your 2018 taxes if you haven’t filed for 2019 yet, or your 2019 taxes if you’ve already filed. Jack Smalligan, Senior Policy Fellow at the Urban Institute, said that people who don’t file tax returns (like retirees whose only source of income is Social Security, or people whose only source of income is Social Security Disability benefits) will also still get checks.

The Senate approved the bill on March 25, and the House is expected to take up the bill on Friday and pass it, sending it to President Trump for his signature. Treasury Secretary Steven Mnuchin, at a March 25 news briefing said he expects that Americans would receive stimulus checks “within the next three weeks.”

If your income is stable and you don’t need the money for immediate relief, how do you use it? Donate it to charity? Save it? Spend it? Consider donating to Giving Center!

Eileen Heisman, CEO of National Philanthropic Trust, said “Ask yourself, ‘What is most important to you? Where do you want your donation to have the most impact?’ Philanthropy is highly personal and there is no right answer,” she said. But Giving Center makes the decision easy! Our mission is to improve the lives of the less fortunate. Including those who are Veterans, disabled, students, the homeless, victims of domestic abuse, and so much more!

Take stock of what matters most to you, do your research. Giving Center is a 501(c)3 non profit charity organization. They are IRS Approved, and operate nationwide! They will also pickup your charitable donations for FREE!

With a crisis like the Coronavirus pandemic, there may be immediate needs such as providing lunch to low-income kids during school closures or aid at senior centers. But there will also be different needs long after the virus peaks, such as providing money or job-interview support for people who have been unemployed for an extended period of time. And as the plight continues, some people fear that fundraising may lessen, so your money will continue to be needed. Giving Center is asking for your help today!

What’s the best way to make a donation? If you are making a charitable contribution, Heisman said it’s generally more impactful to concentrate your money in a larger amount to one charity such as Giving Center, rather than making a bunch of small donations to many charities (to cut down on administrative costs such as processing your check and writing thank you notes), as well as to check to see if your company does a matching donation. 

You can also donate other items. Donate a boat, donate aircraft, donate a vehicledonate real estate, donate collectibles, and more!

Plenty of people are pooling their time and resources to help those most in need, and anything that you can spare can make a difference.

It’s okay to share about your kind act on social media. Doing so is not a humblebrag but rather a help, Heisman said. “Tell your social circle about your donation,” she said. “Your endorsement means something to others and has the potential to double or triple what the charity receives.”

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