As a non-profit arts organization, Maine State Music Theatre simply wouldn’t exist without the generous contributions of individuals, corporations, and organizations. Ticket sales cover only a portion of our production costs, making donations critical to our work. Your tax-deductible donation to MSMT helps us continue to thrive, and bring the best in musical theatre to our community. Your contribution also helps educate the next generation of artists and audiences through our Educational Fellowship and Theatre for Young Audiences programs.
Annual Fund Designations
MSMT’S GREATEST NEED Support MSMT’s general operation through gifts used wherever the need is greatest.
EDUCATIONAL FELLOWSHIP Support the educational program, including travel, housing, mentorship, seminars, and experiencing Maine.
RESIDENTIAL LIFE Support the summer company’s needs, including transportation, food, activities, and houseware needs.
HOUSING Support housing needs for nearly 150 company members throughout the summer season.
TECHNICAL ART & DESIGN. Support the integrity of MSMT’s productions, including state-of-the-art technology, sound and lighting systems, and safety equipment.
NEW TAX DEDUCTIONS
If you are considering making a donation to MSMT, please note the following:
People who make smaller gifts will be able to deduct them up to $300. Presently, only those who itemize their income tax deductions are able to use a charitable deduction. For the rest of 2020, an individual will be able to deduct up to $300, irrespective of whether or not they itemize their deductions. This “above the line” deduction can be used for contributions only of cash (not stock) to qualified charitable organizations. This will be helpful for organizations as they ask for donations through email, direct mail, and in person from donors who usually make smaller gifts.
People who make larger gifts will be able to deduct a much higher amount. Under current law, an individual may deduct up to 60% of their adjusted gross income (AGI) for charitable deductions of cash. The stimulus package lifts that restriction, so that an individual can make a gift only of cash (so once again not stock) and deduct it up to 100% of their AGI for the year 2020. This is an election, so the donor who wants to use this provision must tell the IRS so. This is helpful for major donors; it could allow a person to make charitable gifts that eliminate their tax burden. Any contributions in excess of total AGI may be carried forward for up to five additional years, which is yet another benefit and planning tool. This may not be used to fund Donor Advised Funds or Supporting Organizations.
This tax break would take effect in 2020, so you would claim the break when you file your 2020 return next spring.