| Oregon’s Cultural Tax Credit Is More Valuable Than Ever!By Southern Oregon Artists Resource, 1965 contributed posts
View all Southern Oregon Artists Resource's posts.
About the author: SOAR: The Southern Oregon Artist's Resource is a directory of Southern Oregon artists, artisans and those who serve them and calendar of their art events, and Art Matters!, our blog posting Southern Oregon art events and matters of interest to artists, enthusiasts and patrons of the arts near and far. SOAR was created and is maintained by art advocate and web designer Hannah West in Jacksonville, Oregon to promote our diverse and talented arts community to our visitors and the rest of the world. News and UpdatesDouble the impact of Giving Tuesday!There’s no reason to wait until the end of the year to match these gifts. |
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New tax laws make cultural tax credit more valuable |
The recent change in federal tax laws had the unintended consequence of discouraging charitable giving by reducing the number of taxpayers claiming a deduction for their gifts, which makes the Cultural Trust tax credit an even more important tool for Oregon taxpayers. The tax credit is unaffected by the 2018 tax law changes. Working with the Oregon Department of Revenue, the Trust recently posted frequently asked questions and answers on its website. The chart below shows total tax savings, net cash outlay and value of contributions for taxpayers that do not itemize. Similar information for taxpayers who itemize on both their state and federal returns, as well as those that itemize on their state return can be found here. The IRS provides more detailed rules on charitable contributions and state or local tax credits or deductions on its website. Please review these materials and assure all your friends that the benefits of the cultural tax credit are alive and well! |
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Donor profileMcLaren Innes protects Astoria’s cultural heritage |
Fiber artist and activist McLaren Innes is passionate about protecting the cultural heritage of Astoria, her home for the last 41 years. “I am honored to be retired here. I donate to local organizations that produce music, art and other creative offerings that strive to preserve our cultural history,” says McLaren. “I give because they need it and they are incredibly important to our community.” A Cultural Trust donor since 2003, McLaren makes her donation to the Cultural Trust online using some Required Minimum Distribution funds from her retirement. “That way I avoid taxes on those funds,” she says. “The Cultural Trust is the best investment Oregonians can make in their culture,” says McLaren. “It’s a no brainer when a donation that nurtures a worthy nonprofit also provides a significant tax advantage to the donor.” |
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Five more FY2020 grant awards announced! |
Five more Oregon cultural nonprofits will receive FY2020 Cultural Development funding from the Oregon Cultural Trust. The additional grant awards are the result of funds being returned by two previous awardees (whose projects are not moving forward) and brings the total of FY2020 grant awards to 139! Congratulations to our new awardees: Applegate Regional Theatre, Eugene: $9,558 Astoria Visual Arts, Astoria: $5,072 Ballet Fantastique, Eugene: $5,000 Classical Up Close, Tigard: $5,000 Imago Theatre Mask Ensemble, Portland: $10,000 |
| Astoria Visual Arts’ iLLUMiNART 2018 |
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Impact storyEugene-Springfield Youth Orchestras empower students |
Nothing conveys the incredible impact a donation to the Oregon Cultural Trust can have more than the adorable students in the Eugene-Springfield Youth Orchestras’ String Academy sharing their pride and delight. Because people like you took the time to donate, for which the state of Oregon will reimburse you at tax time, the orchestra is a bright spot in the lives of 145 children who might not otherwise have access. And that truly is something you can’t put a price on. |
| The impact of the Cultural Trust, in the words of students. |
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Mark Renard of Lake Oswego appointed to Cultural Trust Board |
Mark Renard, the executive vice president of Johnstone Financial Advisors in Lake Oswego, has been appointed to the Oregon Cultural Trust Board of Directors by Gov. Kate Brown. For several years Renard has applied his financial acumen to advocating on behalf of the Cultural Trust, authoring opinion pieces and founding AccessArt, a co-op marketing and art exhibition program. AccessArt connects business, the community and artists at quarterly events hosted at Johnstone’s historic building in downtown Lake Oswego. . “Mark has been a great champion of the Cultural Trust for years,” said Charles Sams III, chair of the Cultural Trust Board. “We are extremely fortunate that he has agreed to make his passion for our work official by joining the Board of Directors.” |
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