HOW WILL MY PERSONAL INFORMATION BE USED?
ARE MY GIFTS TO THE ARTS COUNCIL TAX DEDUCTIBLE?
Gifts to the Arts Council are tax deductible under Section 170(c) of the U.S. Internal Revenue Code, in accordance with IRS regulations. The Arts Council provides written acknowledgment of all charitable donations.
WHAT DOES THE CARES ACT MEAN FOR MY GIFT?
Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act to help combat COVID-19. Included in this legislation were several provisions that expand charitable giving tax deductions for 2020 and 2021:
Starting in 2020, you can deduct your gift to the Arts Council, even if you take the standard deduction. Individual taxpayers who take the standard deduction may deduct charitable gifts up to $300 in 2020. Starting in 2021, married couples who file joint returns can deduct charitable gifts up to $600. This is an increase, as prior to the CARES Act, taxpayers who take the standard deduction cannot get a deduction for charitable gifts.
If you are an individual taxpayer who chooses to itemize deductions, the CARES Act increases the existing cap on charitable cash contributions, raising it from 60% of adjusted gross income to 100%. In addition, any giving beyond the 100% AGI limitation may be carried over and used in the next five years, but the enhanced deduction expires after 2021.
- If you are a corporate taxpayer, you may deduct charitable cash contributions up to 25% of taxable income, raising it from the 10% limit.
WHO IS THE GREATER COLUMBUS ARTS COUNCIL?
The Greater Columbus Arts Council (Arts Council) funds artists and arts organizations through our grants programs and provides marketing services that support artists and organizations through the ColumbusMakesArt.com event calendar and Artist Directory. We also produce the annual Community Arts Partnership Awards recognizing business and individual contributions to the community and the Columbus Arts Festival, the city’s welcome to summer event that takes place each June. Arts Council programming provides access to the arts for people of all cultural backgrounds, economic status, sexual orientation, age and physical ability and ensures broad public access to the arts. Supporting Columbus artists, and arts and culture organizations enhances the cultural image of the greater Columbus area.
WHY SHOULD I SUPPORT THE ARTS COUNCIL?
Contributions from individuals like you can provide funding that allows us to invest your donation where it is most needed in the creative community. The Arts Council is a trusted steward of the money invested in us—we have received the Standards of Excellence designation from the Ohio Association of Nonprofits since 2008. All donations will help us accomplish our mission to support and advance the arts and cultural fabric of Columbus and we are committed to our vision of a thriving Columbus where the arts matter to all of us and where all of us have access to the arts. We cannot do it without you!
HOW IS THE ARTS COUNCIL FUNDED?
The majority of the Arts Council’s budget is comprised of restricted investments from the public sector. The Arts Council has four primary public funding sources, each of which have to be renewed by the legislating authority every year:
A portion of the hotel/motel bed tax from the city of Columbus
5% off most tickets and admissions within the city of Columbus
An annual investment (which varies) from the Franklin County Commissioners
A Sustainability grant from the Ohio Arts Council
IF THE ARTS COUNCIL ALREADY RECEIVES PUBLIC FUNDING, WHY DO YOU NEED MY GIFT?
While public dollars are the cornerstone of our grants budget, there is no public money available to support the Arts Festival, Artists’ fellowships, and many special projects like our Emergency Relief for Artists fund and more. With more funds, we can elevate more artists and work closer to our vision of a thriving Columbus where the arts matter to all of us. Your gift to the Arts Council will enable us to support Columbus-based artists at an unprecedented level.
WHAT IS THE ARTS COUNCIL'S TAX ID NUMBER?
CAN I MAKE A GIFT ANONYMOUSLY?
Certainly! Please indicate your wish to remain anonymous in written correspondence if mailing your gift or indicate that you would like to remain anonymous on the donation form.