Preserving Charitable Giving Incentives
Many of the professional dance groups in the U.S. function as 501(c)3 organizations. As such they rely on contributions to create new works, to provide arts education programs, and engage audiences and communities. According to Dance/USA's 2013 snapshot of the field, 49% of the revenue to dance companies came from private contributions.
Dance/USA works in partnership with Independent Sector and the Charitable Giving Coalition to urge lawmakers to preserve charitable giving incentives - such as the charitable deduction and the IRA charitable rollover - that support nonprofit dance companies that are making their communities stronger, healthier, and more vibrant.
What's at Stake
Each year there are several proposals to limit incentives for charitable giving in an effort to increase revenue to the federal government. Proposals have including a lower percentage or monetary cap, replacing the deduction with a tax credit, or implementing a floor for giving (such as a minimum percentage of adjusted gross income) that would trigger the deduction.
Making Your Case
Tax Fairness for Artists
Dance/USA is also working to revive the Artists Fair Market Deduction, also known as the Artist-Museum Partnership Act, which would allow creators of original works to deduct the fair-market value of self-created works given to and retained by a nonprofit institution. Original works in the dance community could mean costume and set designs or choreographic notations.
Making Your Case
