The Pendleton Round-Up Foundation this week learned it's been deemed a "cultural organization"?by the Oregon Cultural Trust. That means possible tax breaks for donors who give to the Round-Up Foundation, then give a matching donation to the Oregon Cultural Trust.
Word came through a letter from Christine D'Arcy, Oregon Cultural Trust executive director, dated Monday.
Oregon's cultural tax credit reduces dollar-for-dollar the amount of tax a person owes, based on how much is given to the Oregon Cultural Trust. Donors must match their donation to the organization with a gift to any one of the eligible cultural entities, now including the Round-Up Foundation. The tax credit tops out at $500 for individuals, $1,000 for couples and $2,500 for Oregon corporations.
The addition of the Round-Up Foundation brings to 24 the number of "cultural" non-profit organizations?in Umatilla County. Others include the Arts Council of Pendleton, Blue Mountain Wildlife and Inland Northwest Musicians. Morrow County has one eligible non-profit:?the North Morrow Community Foundation, based in Boardman.
Umatilla County also receives funds from the Oregon Cultural Trust each year to distribute among its eligible non-profits. In 2010, that allocation will total $13,324.
The tax credit is intended to boost philanthropy to local cultural programs, while supporting the statewide Oregon Cultural Trust in the process. In return, local non-profits are asked to promote the Oregon Cultural Trust, according to D'Arcy's letter.