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The CARES Act includes increased tax benefits for individuals and businesses who make charitable contributions in 2020. Please see below details*

Donate

Donate

Support the Fine Arts Center programs that you love with a tax-deductible gift. Your donation helps the FAC connect and inspire through exceptional museum exhibitions, professional theatre productions, and arts education.

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Fine Arts Center Foundation

Fine Arts Center Foundation

Originally founded by Marvin Strait while serving on the FAC Board of Trustees, the Foundation has been managed thoughtfully, carefully, and independently since its inception by Thayer Tutt and Marv Strait, along with Gary Loo and Gar Anneler for many of those two+ decades as well. New gifts made to the FAC Foundation will continue to grow this endowment and benefit the programming and operations of the Fine Arts Center for years to come.

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Donations of Art

Donations of Art

The FAC emphasizes art of the American Southwest, Rocky Mountains, and American modern and contemporary art with select exceptional examples of European art. Given the FAC’s commitment to actively collecting, preserving, and interpreting the art in our collection, the Curators and Museum Committee are extremely selective in our accession of art.

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CARES Act for Charitable Gifts

Standard Deduction:

If you plan to take the standard deduction (non-itemized) on your 2020 tax return, the CARES Act allows you to take an ‘above-the-line’ tax deduction of up to $300 for donations to charitable organizations. For reference, the 2020 standard deductions are: $12,400 for individuals and $24,800 for married couples filing jointly. Any donation to qualifying charities, up to $300, will be added to the standard rate of deduction. This deduction will continue into future tax years.

Itemized Deduction:

If you plan to itemize your deductions on your 2020 tax return, the CARES ACT allows you to take a tax deduction, up to 100% of your Adjusted Gross Income (AGI), for contributions to qualifying charities. The CARES Act lifts the 60% of AGI limit for cash donations made in 2020.

Corporate Donations:

For corporate donors, the CARES Act allows an entity to take a tax deduction of up to 25% of their Adjusted Tax Income for contributions to qualifying charities starting in 2020. The CARES Act lifts the 60% of AGI limit for cash donations made in 2020.

*This information is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor.

To learn more about any of these giving opportunities, call (719) 477-4379.