FRIENDS OF KALAKENDRA (2008-2009)

Dear Friend of Kalakendra:

Thank you for choosing to support Kalakendra mission. Oregon legislature has made contributing to a qualified non-profit cultural organization (along with a matching contribution to Oregon Cultural Trust, "OCT") very tax-efficient for donors. Kalakendra has been endorsed by OCT as a qualified Oregon non-profit cultural organization. Here is how it works:

Step 1: Contribute $500 (a couple filing a joint return may contribute up to $1,000) to Kalakendra Limited prior to December 31, 2008. You may use the enclosed contribution form or visit either www.kalakendra.org or www.indogram.com to contribute on-line.

Step 2: Contribute an equal amount as in Step 1 to the Oregon Cultural Trust by December 31, 2008. (Please see attached OCT contribution form). Please visit www.culturaltrust.org for additional information to contribute on-line.

Comment: You have an option to not contribute to OCT (Step 2), depending on your tax liability. You still receive regular tax benefits for charitable gift to Kalakendra Limited as an IRS Qualified Charitable Organization.

Step 3: (a) Claim Itemized Deduction for the contribution to Kalakendra Limited, per IRS rules, for Step 1 as Gifts to Charity, Item 15,of your 2008 Federal tax Schedule A.

(b) Claim a full tax credit benefit in your 2008 Oregon tax return for your matching contribution to the OCT in Step 2. Unlike an Itemized Deduction that only reduces the amount of your taxable income, a tax credit reduces the amount of tax you owe. Your gift to the Oregon Cultural Trust will reduce your April Oregon Income Tax liability dollar for dollara 100% credit for every dollar you give to the Trust. Oregonians can claim their donation on lines 39 and 40 of their Oregon Form 40 tax return, or on lines 16 and 17 of their Oregon Form 40S tax return. The "identify" code for the Oregon Cultural Trust is 722.

(c) Claim Itemized Deductions from Federal Schedule A, per Oregon tax rules in your 2008 Oregon state tax return.

 

Sincerely,

The Board of Directors of Kalakendra

(The above discussion is not a tax advice. Please consult your tax advisor as your individual tax situation may be different).

 


Oregon Cultural Trust
775 Summer Street NE
Suite 200
Salem, OR 97301
Phone: (503) 986-0088
Fax: (503) 986-0260

Kalakendra

P.O. Box 655
Portland, OR 97207
Phone (503) 233-8838
Fax (503) 228-4065

info@kalakendra.org

 

If applicable, please consider if your employer could match your charitable contribution.