EUGENE, Ore. (KMTR) – Oregon residents may be eligible for a unique tax credit if they have donated to an arts and culture group.
If a resident donates to an arts and culture group by December 31st and matches that donation to Oregon Cultural Trust, they qualify for a dollar for dollar tax deduction by April 15th.
The eligible non-profits include public broadcasting groups, museums and performing arts groups.
Ellen Singer from Eugene was a donor this year and therefore will get her money back. She told NewsSource 16 that it really is a win-win because you end up giving something that is free for you, but betters the community and state. Nearly 500,000 people statewide are involved in arts and cultural programs.
“The Oregon Cultural Trust exists to ensure the future of the arts in Oregon which is good for everybody. It’s good for kids, it’s good for adults, and it’s good for industry. Really, it’s not costing you anything to make that gift to the Oregon Cultural Trust but it does result in you getting a double tax deduction,” Singer said.
An individual can donate up to $500 dollars or as a couple, $2,000 dollars. Those interested can donate online by clicking here.
If you have already made a donation to an arts group, all you have to do to qualify is make that matching donation to Oregon Cultural Trust. They sort their donations and distribute it back into the local community.
The deadline to donate is December 31st. Oregon Cultural Trust says on its website that donors will receive their money back by April 15th.
Oregon is the only US state to offer this incentive.