Supporting the Arts
It’s that time of year again, when many are compelled to open their hearts and their wallets to help make the world—and especially their community—a better place for all to live. By lending support to the groups and organizations that are dedicated to assisting and enhancing their community, end-of-year philanthropic efforts by individuals, companies and corporations have become a pillar of society.
The Smith Center strives to unite the residents of the Las Vegas Valley by providing and preserving a high-quality performing arts center that promotes artistic excellence, education and inspiration within the community. Offering top-notch programming and numerous education and outreach initiatives that foster the love of art in future generations, The Smith Center is enthusiastically committed to the cultural growth of our city.
And while various methods of supporting the world-class performing arts center are available—memberships, donations, volunteering, show dedications and more—planned giving is perhaps the most significant and impactful. Whether it’s naming The Smith Center as a beneficiary in your estate plan, including a charitable bequest to the center in your will or living trust, or establishing a memorial or tribute gift to TSC, you may be eligible for tax-saving benefits. Details on planned giving—including how to get started and learning the best gift option for you—can be found on The Smith Center’s website at thesmithcenter.planningyour legacy.org. Also available on the site is information about what’s new in regards to charitable giving and tax-saving benefits.
For example, in July, the Senate Finance Committee approved an extension of the IRA Charitable Rollover provision, which is a major tax incentive when it comes to charitable giving. It’s also a substantial source of funding for most nonprofit organizations, including arts organizations.
Several senators endeavored to add the America Gives More Act to the bill in hopes of making the provision permanent. Attaining permanency of the provision has been a decade-long goal of Americans for the Arts, a nonprofit organization that works to serve, advance and lead those who cultivate, promote, sustain and support the arts in the U.S.
With its current cycle of expiration and reinstatement, many donors and nonprofit arts groups haven’t been able to maximize their impact on their community. And while four senators called for support of this provision, which previously was passed twice in the U.S. House of Representatives, no vote was held at that time. The Senate bill did pass the committee vote, though, and next it will be considered on the Senate floor.
In light of this positive legislative progress in support of the arts, along with The Smith Center’s variety of gift options and assistance in determining the right charitable choice for your situation, it’s possible for you, too, to support the arts and ongoing cultural growth of the Las Vegas Valley for generations to come.
If you’re interested in exploring the planned giving options related to The Smith Center, senior gifts officer Heather Estus can be reached at 702.749.2013.