SUPPORT BLUMENTHAL PERFORMING ARTS
Help sustain the vibrancy, quality, and diversity of our organization.
Blumenthal Performing Arts has remained open over the past few months at a substantially reduced level due to public gathering restrictions. All Broadway, concerts, comedy, and speaker events ceased touring with no restart dates announced. Since March, decisions were made to ensure that as a nonprofit, we remained in good standing and were making necessary improvements to our facilities.
Despite these difficult times, Blumenthal continues to engage with the community, both by adjusting normal programming and by adding creative, new ways for interaction. In mid-June when public gathering limitations were changed to allow 25 people outdoors, Blumenthal began hosting outdoor performances with live streaming that have continued nearly every week since. Prior to COVID-19, Blumenthal hosted a minimum of 30 shows each week; however, we are now reduced to one or two outdoor events each week.
In a normal year, Blumenthal’s business model relies on generating 90% of revenue from earned sources like tickets sales and fees. Although we have been active with impactful community and educational programming, nearly all are free. The types of events that generate earned revenue will likely not return until the summer of 2021. While we are proud of the high impact programs we are offering, they do not replace the total loss of earned income we have faced and will continue to face.
Please consider making a tax-deductible contribution to Blumenthal Performing Arts. With your support we can keep the arts alive by reactivating, reimagining, and supporting artists and their craft.
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.
Other Strategies for Giving
- If you have a Donor Advised Fund, this is a perfect time to make a gift from your DAF where you have already placed funds with the specific intent of making future charitable contributions.
- For gifts of stock, please contact Stephanie Mudd, Director of Donor Relations, at [email protected] or 704.379.1353.
- If your employer has a Matching Gifts Program, check the guidelines to see if you might double your gift to Blumenthal Performing Arts and other organizations you support. Some employers, like PNC, a generous sponsor of Blumenthal Performing Arts, are doubling their matching dollars for employee giving during this time.
- Consider including a gift to Blumenthal Performing Arts in your will, estate plan, or by beneficiary designation. With thoughtful estate planning, you can provide lasting support today for tomorrow's audiences as a member of our Legacy Society and continue to secure the future of Blumenthal Performing Arts.
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