Your tax-deductible contribution will be matched from now through December 31 up to $25,000!
Your gift will have 2X the impact!
The last 20 months were the greatest challenge in our 68-year history, but we remained steadfast in our mission to foster an appreciation for music in people of all ages in our community. Now we happily come “together again” to enhance the lives of our community through LIVE music.
The Philharmonic Society is working hard to “Play it Forward” in our return to live music, as well as to connect with new audiences in the innovative ways we established last season:
- Our return to a full season of live music and the reinstatement of our in-person youth music education programs
- World-class musical offerings such as the Jerusalem Quartet featuring Pinchas Zukerman, the Royal Philharmonic Orchestra, and London Symphony Orchestra
- The continuation of our virtual and live-streamed concerts which last year reached 105 different countries and 1,600 unique households
- Orange County Youth Symphony named the “First Youth Ensemble in Residence” at the Irvine Barclay Theatre with a return to full ensemble rehearsals and performances
- The in-person reinstatement of our Concerts for Fifth Grade and High School Orchestra Festiva in Spring 2022
- Deployment of our virtual interactive Music Mobile program THIS month
Please consider a gift to help us “Play it Forward” and invest in the future generation of musicians and ensure that our community stays connected to the music.
Thank You for supporting music for our community!
Four Tax-advantageous Ways to Give
See below for information on four tax-advantageous ways to give or click here for a printer-friendly version. Please consult with your financial advisor when considering making these gifts.
1. Increased Charitable Deduction for Non‐Itemizers
The special charitable deduction that was created in 2020 has been extended to 2021 and increased. The tax deduction for 2021 allows for charity donations up to $300 without itemizing and is increased to $600 for married individuals filing jointly. To qualify, you must give cash (including paying by check or credit card) to a 501(c)(3) charity, otherwise known as an operating nonprofit. Gifts of goods or stock do not qualify.
2. Give Cash Contributions Directly to Charity of up to 100% of your income for 2021
In 2021, you can deduct cash gifts of up to 100% of your adjusted gross income, maintaining the 2020 increase from the usual 60% limit. To qualify for this higher limit, the gifts must go directly to the charities or operating nonprofits, rather than to a donor‐advised fund or private foundation.
3. Offset a Roth Conversion with a Charitable Cash Donation
Combining a large cash donation and a Roth conversion could be a great opportunity for many givers in 2021. An individual with the goal of making a $400,000 cash donation, and expected 2021 gross income of $200,000, could also convert up to $200,000 from a regular IRA to a Roth with little or no additional tax. The 100% “ceiling” on charitable gifts would shield both the Roth conversion and the individual’s other 2021 income. If the regular IRA assets have temporarily declined due to coronavirus market wobbles, proper timing of a conversion can save additional taxes (the assets would be valued at the date of conversion, not their later value after recovery from the decline).
4. Donate to Charity from a Traditional IRA Starting at Age 70 1/2
Making a charitable contribution from your IRA not only allows you to support a good cause, it also offers tax advantages. The donor must be 70 1/2 or older. The gift must be made directly from the IRA to an eligible charitable organization for the money not to be taxed as earned income. Gifts to all charities combined cannot exceed a total of $100,000 per taxpayer for the year.
Other Ways to Give
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