The Bottomline: Your Support Helps You & All of Oregon Celebrate the Arts
1. As a Tax Deduction —
Because we are a 501(c)(3) nonprofit organization, your direct contributions are tax deductible on both your Federal and Oregon income taxes. In 2020, Congress has sweetened the deal on the deductibility of charitable contributions. In the Coronavirus Aid Relief and Economic Security Act, the IRS will allow an additional $300 deduction for charitable contributions for filers who take the standard deduction. This is a universal “above-the-line” deduction that is listed as an adjustment to income with no requirement to provide documentation. Donating to charity could not be simpler or more completely tax free.
2. As a Tax Credit —
Looking for more than a tax deduction? Charbonneau Arts Association is a member of the Oregon Cultural Trust. This means your donation results in a tax credit and a deduction on your Oregon Income Tax! A tax credit is a dollar-for-dollar reduction on the bottom-line better than a deduction — you may realize 100% tax credit on donations of up to $500 for individuals and $2,500 for corporations! For most this means when you claim your cultural tax credit, your donation dollar-for-dollar can be deducted from what you owe. You can’t lose and only give benefit to student art programs in our local community.
Get the full details at http://www.culturaltrust.org.
and also view a more detailed Q&A here: https://culturaltrust.org/wp-content/uploads/CulturalTrustPresentation.mp4
To discuss your support, please contact: Eric Hoem, Sponsor and Donor Chair, at email@example.com or anyone on our dedicated Board of Directors. Our Federal Tax ID number is 47-4653404.