Be a Lifeline
MSMT has set up the Lifeline Fund to help support the theatre in response to the Covid-19 cancellations and restrictions.
As a not-for-profit arts organization, charitable contributions are vital to our mission to offer engaging, live professional performances and outreach opportunities that entertain, educate and enrich lives with power and passion.
None of it is possible without you. And this year due to the cancellation of our 2020 season, we need you now more than ever.
Your gift will help us raise the curtain in 2021 — and until then, it will provide the critical funding of resources to support MSMT staff and programs as we prepare for 2021 shows – sets, costumes, technology and maintaining the level of professionalism you have come to expect from our company. We also need to recruit technicians, actors, and Educational Fellows for the next season, and continue to build relationships with our donors, subscribers, patrons, advertisers, and sponsors.
Through careful fiscal planning we have been able to cut almost $3 million from our over $5 million budget and we have been able, through the generous donations from many patrons and sponsors, to salvage a portion of our income for this summer. But, we still need to recoup nearly $1.5 million to stay strong through this loss and bring you a vibrant 2021 season and beyond.
Help continue our memories and be a Lifeline Today.
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.
* Looking for where to donate your 2020 tickets or get a refund? Visit our ticket return page. *