We are closing in on the end of the year, and now is the time to finalize your charitable giving in 2020. With the help of The Paros Foundation friend and donor, Eric Nikssarian, CFP® a wealth advisor with EP Wealth Advisors, we were able to understand a few of the changes that only apply this year due to the CARES Act.

Here are a few things you should know…

• ABOVE THE LINE DEDUCTION: One of the rules that can directly affect your charitable giving is that you can donate up to $300 to The Paros Foundation or any bona fide 501(c)3 organization and deduct it above-the-line on your tax return in 2020 directly lowering your taxable income. This new rule is available for taxpayers who do not itemize deductions in 2020. *Please note this rule change is only in effect for 2020 and donations to a Donor Advised Fund do not count for this deduction
• NEW DEDUCTION LIMIT FOR INDIVIDUALS & CORPORATIONS: For those that are itemizing, charitable deduction limits have increased from 60% of adjusted gross income to 100% of adjusted gross income for 2020 only. Charitable deduction limits for corporations have also increased to 25% of their taxable income, up from 10% for 2020 only. *Please note: Donations made to Donor Advised Funds again do not count for this incentive. Be advised if you plan to donate property, securities, and other non-cash assets that they may not qualify. If donors give more than 100% of their AGI, that amount can be carried forward up to offset future income for up to five subsequent years.
• QUALIFIED CHARITABLE DISTRIBUTIONS: Required minimum distributions have been waived for 2020 in most cases. However, individuals who want to donate from their IRA can still make qualified charitable distributions to charities and avoid paying tax on the distribution.

The silver lining to these trying times is that we can still make a positive impact. If you have any questions about donations feel free to direct your questions to Peter Abajian, Executive Director of The Paros Foundation. If you’d like to contact Paros friend Eric Nikssarian, CFP® , a Wealth Advisor at EP Wealth Advisors, you can email him at enikssarian@epwealth.com

For more information, please feel free to visit the IRS website:
https://www.irs.gov/newsroom/how-the-cares-act-changes-deducting-charitable-contributions

Disclaimer: This article is not meant to provide tax advice or make promises on rebates. You should consult your tax professional regarding your specific tax situation. This article is not a solicitation to work with EP Wealth Advisors, LLC. Talk to your own financial advisor or tax professional for help regarding individual financial situations.

Dear Paros Supporter,

Saying 2020 has been a difficult year is an understatement! Our homeland faced an unimaginable combination of hurdles and tragedies beginning with the Covid-19 pandemic – which claimed many lives, destroyed businesses and debilitated the economy – followed by the Azeri attacks on the Tavush Region and then later, the war on Artsakh. We are ending the year with tens of thousands of our brothers and sisters displaced from the war as refugees.

We are grateful to the Paros community for coming together and supporting our important projects. YOU helped make our response to the Azeri attacks on Armenia and Artsakh a reality! Immediate relief, resettlement and reconstruction are our priorities. To date, we have:

• Delivered 1,100 warm winter field coats and 200 warm winter pants for use by volunteer defenders.
• Purchased and airlifted critical medical equipment for both field and hospital use including defibrillators, mobile ultrasound equipment, electrosurgical units and other needed supplies.
• Purchased and delivered 160 gas heater cookers for use by refugees and volunteer defenders.
• Delivered three large winter tents to volunteer defenders on the border.
• Provided emergency relief to nine families in the form of lodging, food and/or supplies.
• Donated more than $108,000 to support the pan-community effort for Armenia Fund USA.
• Launched the reconstruction of a 24-unit apartment building in Aygepar, and a home in Nerkin Karmir Aghbyur (NKA) both shelled by the Azeris.
• Made immediate repairs to the Aygepar kindergarten, which was also shelled by the Azeris.

We have launched our Refugee Resettlement Program for families who have lost their homes in Artsakh and cannot or are not willing to return – to resettle them into a renovated home in Armenia – complete with an economic opportunity for them to live and work.

Progress was also made on many of our other projects including:

• Construction work on village schools in Zorakan, Verin Getashen, and Nerkin Karmir Aghbyur (NKA) and on Abovyan 8, Nork 106, and Yerevan 154.
• Construction on kindergartens in Achajur, NKA, Nor Geghi, Paruyr Sevak, Varagavan, Paravakar and the addition of the Glen Klanian Memorial Footbridge in Baghanis.
• Operation of the Debi Arach Children’s Center in Gyumri.
• Economic projects including Armenia Support Fund Covid-19 small business grants, Aygepar Business Incubator and our Pilot Orchard Project in NKA.
• Feeding 800 senior and at-risk residents during the pandemic via our #FeedingArmenia – Tavush project.
• Rebuilding a home in NKA via our Border Home Repair program.
• Moving our 25th family as part of our Purchase a Home project in Gyumri.

If 2020 and the difficulties we faced taught us anything, it is that “together, we are stronger.” We appreciate our partnership and collaboration with The Organization for Humanitarian Services for Armenia (Developmental Services for Armenia), Focus on Children Now, Musical Armenia, GOALs, Armenia Tree Project, Shirak Center NGO and the Armenia Support Fund.

Our nation needs us to remain engaged. Join our efforts to help resettle the tens of thousands of refugees that are now homeless and looking for a new start, or risk them emigrating to Russia or the U.S. to pursue economic opportunities. Thank you again for your continued support of our nation and our work.

As the year draws to a close, on behalf of our staff in the US and Armenia, I would like to extend to you and your family a happy, healthy and prosperous new year.

Sincerely,

Peter Abajian
Executive Director

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Although the year is coming to a close we are still working to help the many displaced families that have lost their homes as there is still lots of work left to do. Join us as we continue to help our brothers and sisters in Armenia and Artsakh!

WE MUST ACT NOW. Here is how you can help:

1. Send a note to NATO via email.
Here is pre-filled email template you can use:
Send NATO an email to eject Turkey
*Remember to sign your name at the bottom

2. Donate to Armenia Fund. If you already donated, call someone you know and ask them to donate.
Donate here!

Photos courtesy of AFP – Aris Messinis

Surprise, Surprise — Not many of us in the Armenian community were surprised to learn that within minutes Azerbaijan for the third time broke the humanitarian ceasefire set to take effect this past Monday morning, which this time was brokered by the United States.  While Azerbaijan and Turkey laugh and snub their noses at the efforts of Russia, Europe and the United States to reach a humanitarian ceasefire, more than 100,000 Armenian civilians are displaced creating a humanitarian crisis and more than 1,000 of our heroes have been martyred defending our homeland.  Azerbaijan’s actions combined with Turkey’s support cannot go unchecked. WE MUST ACT NOW.

Here is what you must do immediately:

1. Call both of your US Senators and demand them to support immediate sanctions on Azerbaijan and Turkey and to cut all military assistance to both countries. Recep Erdogan, Turkey’s dictator has publicly taunted the US to sanction Turkey! If you have already called your senators, call your friends and family and have them call too.
   To find your Senator, visit:
   https://www.senate.gov/general/contact_information/senators_cfm.cfm
2. Call your US Representative and ask them to support H.Res. 1203 which recognizes the Republic of Artsakh.  Artsakh’s recognition by the international community as an independent Country must take place. If you have already called, please call your family and friends and have them call their member of congress too.
   To find your Congressman, visit:
   https://www.house.gov/representatives/find-your-representative
3. Donate to Armenia Fund.  Armenia and Artsakh are facing a humanitarian crisis because of Azerbaijan’s attack.  The onset of winter and spiking Covid-19 numbers only make this situation more dire. Please donate generously.  If you have already donated, please work to raise funds from your family and friends to support the life-saving work of Armenia Fund.  Donate now at www.armeniafund.org

Azerbaijan and Turkey have made it perfectly clear that they intend on fighting until no Armenians are left in Artsakh and possibly even Armenia.  We must continue to rally the 10 million strong diaspora into a new global Armenian army to fight for our right to survive.  Please act now,  again tomorrow, the next day, until Azerbaijan and Turkey agree to allow Armenia and Artsakh to live in peace.

With your generous support, and that of the generous anonymous support of those donors who established and increased the challenge match, we raised $100,000 for the Armenia Fund!

Make no mistake, our fight has just begun. On October 10th, a humanitarian ceasefire was brokered in Moscow between Armenian and Azerbaijan. It is unclear if this ceasefire will stick, or only be used as an excuse to give Azerbaijan a chance to regroup.  The Armenian Defense Ministry was announcing heavy attacks on civilians in Hadrut beginning 30 minutes after the start of the agreed upon time.  Drone strikes also took place in Armenia’s Syunik region’s Yeritsvank village.

Once the attacks have stopped, we will turn our attention to the task of rebuilding these communities.  In the coming days we will extend our Emergency Reconstruction Fund that was established in July following the brutal attacks against civilian communities in Armenia’s Tavush Region to help address the monumental task ahead of our community in rebuilding Artaskh.

We must remain active and support the aggressive effort spearheaded by the Armenian National Committee and Armenian Assembly to cut all military aid to Azerbaijan and Turkey along with their other critical initiatives.

This war is being fought on the battlefield, in the media and in diplomatic circles and we must do whatever we can to win.