SUPPORT BLUMENTHAL PERFORMING ARTS
Help sustain the vibrancy, quality, and diversity of our organization.
Blumenthal Performing Arts is looking to the future. We are committed to keeping our community connected and making sure that the arts are accessible to ALL residents of the Charlotte/Mecklenburg area and beyond. To do this, your support is needed now more than ever.
Your generosity keeps a critical community asset alive, ensures Blumenthal remains an economic catalyst for our region, supports our road to reopening, and continues to allow our team to work behind-the-scenes so we are ready to welcome you back to the theater. Your impact, vision and commitment to our organization is greatly appreciated.
Please consider making a tax-deductible contribution to Blumenthal Performing Arts. 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.
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 Chase Law, VP of Development at [email protected] or 704.379.1359.
- 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