Most groups depend on ticket sales to keep going, but most organizations also accept donations. Now one local group is working with the state of West Virginia to offer tax credit vouchers to donors. Here are the details from this story in the Herald-Dispatch:
Those planning to make donations to Huntington's First Stage Theatre Company now have some added incentive.
The First Stage Theatre Company has received $3,930 in West Virginia Neighborhood Investment Program (NIP) tax credit vouchers, and it will distribute the vouchers to contributing businesses and individuals.
Contributors to the long-running area Children's Theatre can reduce certain West Virginia taxes. The West Virginia Legislature sets aside $2.5 million each year in state tax credits for the program that is divided among qualifying 501(c)3 nonprofit groups.
That allows First Stage to issue tax credits up to $3,930 to businesses and individuals who make donations. The minimum contribution that a donor can make to receive a tax credit is $500. The maximum is $3,930.
Contributors can get up to 50 percent of their donation amount in tax credits, which can help decrease their state corporate net income tax, business franchise tax and personal income tax.
"It's an opportunity for us to give back to the individuals and organizations who have supported First Stage over our 20-year history," said Elaine Young, vice-president of First Stage.
First Stage will use the funds to provide education, auditions and participation opportunities in the performing arts to low-income children.
For more information, contact Young by e-mail at eyoung4039@aol.com, by phone at 304-733-4909, and by mail at 6421 Rt. 60 East, Barboursville, WV 25504.
The First Stage Theatre Company, whose 2009 fall production Into the Woods will take place in November, will celebrate its 20th anniversary in 2010.
No comments:
Post a Comment