SUPPORT BLUMENTHAL PERFORMING ARTS
Help us sustain the vibrancy, quality and diversity of our programs.
Blumenthal Performing Arts is looking to the future with the announcement of an exciting and spectacular 2020-21 Broadway Season. We are also committed to continuing our many educational and community access programs like Ticket Scholarships, School Shows, The Blumey Awards and Junior Theater Celebration Charlotte.
Your generosity not only supports a critical community asset, but it also helps us create strong partnerships with area community organizations, supports our local educators and their students, and makes the arts accessible to ALL residents of the Charlotte area and beyond. Many of these programs are free for children and families across the region thanks to your support.
Please consider making a tax-deductible contribution to Blumenthal Performing. With your support we will move forward and continue to be gathering place for all and deliver on our mission of enriching our community through the arts.
DID YOU KNOW?
The Federal CARES Act Includes Charitable Giving Tax Break for Donors
The CARES (Coronavirus Aid, Relief and Economic Security) Act includes added financial incentive for community members who want to make donations in support of local efforts to combat the near- and long-term effects of the pandemic on our community. A universal tax break for charitable donations was included in the stimulus package and will go into effect for the 2020 tax year.
- Donors who take the standard deduction may also take an “above-the-line” deduction for up to $300 in charitable donations given in 2020. This effectively allows a limited charitable deduction to taxpayers claiming the standard deduction. For example, if you take the standard deduction and give $300 to charity, you will get a $300 tax break in addition to the standard deduction.
- For donors who itemize deductions, the limit on charitable deductions – generally 60% of modified adjusted gross income – doesn’t apply to qualifying cash contributions to public charities in 2020; instead the CARES Act allows taxpayers to claim a tax deduction of up to 100% of your Adjusted Gross Income for contributions to qualifying charities.
- These new deductions are only for cash gifts that go to a public charity, not to Donor Advised Funds or Private Foundations.
- For corporate donors, the limitation on charitable deductions, which is generally 10% of modified taxable income, doesn’t apply to qualifying contributions made in 2020. The new law temporarily lifts the limit from 10% to 25% of modified taxable income for 2020 filings.
Please consult your accountant or tax preparer for more information about these changes, and how they can help you with your charitable support.
I encourage you to look at some of our programs and consider how your support will enrich the arts and our community. Join us by becoming a member or corporate partner today.
Tom Gabbard, President