Contact: Christine D’Arcy, firstname.lastname@example.org, 503-986-0087
Cultural Supporters Have Four Days Left to Make a Donation
To Earn a 100% 2011 Oregon Cultural Tax Credit
Cultural Trust Office Open New Year’s Eve for Last Minute Donations
December 27, 2011 – Salem, ORE. Supporters of Oregon’s arts, heritage and humanities have just four days remaining to take advantage of a very special incentive to sustain Oregon culture. Since 2002, Oregonians from Astoria to Fields to Neskowin to Joseph have come together to do something almost beyond imagination – build a permanent, sustainable fund for culture. Using Oregon’s innovative cultural tax credit, citizens have contributed $25 million to the Trust – and the Cultural Trust has awarded $11 million in grants to support theatre, music, dance, historic preservation, libraries and every aspect of culture – in every county of the state.
The cultural tax credit is simple: For example, if you’re a member of a public broadcaster at $60; you joined a historical society for $50; and you supported your local schools foundation at $50. Your cultural donations total $160. Make a matching gift to the Cultural Trust of $160 by December 31 and, when it comes time to do your 2011 taxes, the cultural tax credit will reduce your tax bill by…$160.
That’s right – a 100%, dollar-for-dollar, bottom line savings on your taxes. The cultural tax credit may be claimed for a gift to the Cultural Trust of up to $500 by individuals, $1,000 by couples filing jointly, or $2,500 by corporations – as long as that gift is matched by equal or greater contributions to any of Oregon’s more than 1,300 arts, heritage and humanities by nonprofits. A searchable database of qualifying nonprofits can be found at www.culturaltrust.org.
But, like any charitable contribution, gifts must be made by December 31.
A tax credit is easier to claim than a deduction. It can be claimed by anyone who owes Oregon taxes (even Washington residents, with Oregon tax liability); you don’t have to itemize deductions, and the cultural tax credit can be claimed on the short form, or long.
The money raised through the cultural tax credit returns to the community as grants. Since 2002, the Trust has raised $25 million: $14 million remains in a permanent fund to ensure future of culture funding; and over $11 million has been distributed in 835 grants that benefit every county in Oregon. Grants made possible entirely by people who donate to the Cultural Trust.
Checks must be postmarked December 31 or earlier to earn a 2011 cultural tax credit but online donors have until 11:59 PM on Saturday, December 31, 2011 to make a gift that will save significantly on their 2011 Oregon taxes. Every gift counts, no gift is too small.
775 Summer St NE Ste 200, Salem, OR 97301