Leaders in the nonprofit arts world say culture organizations could be especially vulnerable if President Obama’s plan to scale back tax breaks for wealthy donors is enacted, writes The Washington Post.
The president’s proposal, part of his $447-million American Jobs Act, would raise $400-million over 10 years in part by trimming the deduction for charitable giving by families with incomes above $250,000 and individuals earning more than $200,000.
Arts groups rely particularly on high-income donors to fund major exhibitions, productions, and capital projects, and they saw donations decline last year.
“It’s a very challenging environment already. Whatever happens on the national landscape that limits that income is problematic for sure,” said Marie Mattson, vice president of development at the Kennedy Center.
See more coverage of the president’s proposal in The Chronicle of Philanthropy’s Government & Politics Watch blog.
In other arts news:
• The Colorado Symphony could be forced to fold within two years unless it radically revamps its finances and operations, according to an internal report obtained by The Denver Post.
An 11-member committee the orchestra assembled to assess its economic situation said the organization – which closed the last fiscal year with $1.2-million in debts and a $16,000 cash reserve – must quickly slash salaries, find new revenue sources, and revamp how it conducts business in everything from programming to work on its concert hall.
•The Smithsonian Institution’s governing board has elected France A. Cordova, president of Purdue University, to take over its chair, reports The Washington Post.
Ms. Cordova, an astrophysicist and a Smithsonian regent since 2009, will succeed the current chair, Patricia Stonesifer, in January. Ms. Stonesifer, an adviser to the Bill & Melinda Gates Foundation, will become vice chair.
• The Philadelphia Orchestra and the Philly Pops have formally agreed to cut ties, ending an often-stormy six-year partnership, says The Philadelphia Inquirer
The Pops will get a $1.25-million settlement from the Philadelphia Orchestra Association as part of the deal, negotiations for which predate the orchestra’s bankruptcy proceedings.
