The Oregon Cultural Trust’s annual report for Fiscal Year 2011 (July 1, 2010 – June 30, 2011) has been published. Contributions to the Trust increased by 5.3 percent in FY 2011 over 2010, from $3.7 million to almost $3.9 million.
The report details the Trust’s finances, programs and donors, and includes profiles of funded projects undertaken by Live Wire!, Columbia River Maritime Museum, and the Whiteside Theater, among last year’s grantees.
In FY2011, the Trust distributed $1.45 million in 97 grants to cultural nonprofits, county and tribal coalitions and statewide cultural agencies, based on the FY2010 income of $3.8. In FY2011, Over 20,000 Oregonians contributed to the Trust, taking advantage of the state’s unique cultural tax credit, which encourages cultural supporters to increase their giving to the arts, heritage and humanities.
Trust Chair Bob Speltz found the 2011 annual report encouraging. “I’m heartened to see more than 20,000 Oregonians supporting arts, heritage and humanities. This report chronicles their increasing generosity despite a challenging economy and underscores their commitment to the communities that define what it means to be an Oregonian,”said Speltz.
“In good times and bad, culture enriches our communities and our lives. The Cultural Trust invests in every corner of our state – thanks to the involvement of thousands of Oregonians. This report shares just a few of the hundreds of amazing stories we have to share,” said Christine D’Arcy, the Trust’s executive director, about annual report.
Trust Manager Kimberly Howard pointed out that contributions received by June 30 increase the amount of money the Trust can distribute as grants in July. “The amazing thing about the Cultural Trust is that every Oregonian, through her or his donation before June 30th, has the opportunity to contribute to the success of projects like these,” said Howard.
Since Oregon’s cultural tax credit took effect in December 2002, 23,380 Oregonians have contributed over $28 million to the Cultural Trust; over $11 million has been distributed in grants statewide; and $17 million remains in a permanent Trust fund.
Link to 2011 Oregon Cultural Trust Annual Report: http://www.culturaltrust.org/news/publications-archive
The Oregon Cultural Trust is an innovative, statewide private-public program that raises money to support and protect Oregon’s arts, humanities and heritage. In addition to building a long-term, protected endowment, the Trust distributes funds annually through three grant programs.
Donors to the Trust are eligible for a 100 percent Oregon income tax credit for contributions of up to $500 for individuals, $1,000 for couples filing jointly and $2,500 for corporations. To motivate Oregonians to increase direct giving to cultural groups, Trust donors must also make matching gifts to one or more of 1,300 cultural nonprofits in order to claim the tax credit. Since Oregon’s cultural tax credit took effect in December 2002, 17,000 donors have contributed over $22 million to the Trust; more than $9 million has been distributed in grants statewide; and the endowment stands at $12 million. More information: 503-986-0088 or www.culturaltrust.org.
