By Lloyd Musser, The Mountain Times
Last month in this space we explored the topic of finances for non-profit organizations including the Mt. Hood Cultural Center & Museum. The funding sources of bequests, grants and sponsorships were explained. This month in Show Me the Money Part Two, we will discuss memberships, donations and earned income as funding sources for non-profit organizations, including the Museum.
Membership dues are not a major source of funding for most non-profit organizations. The most popular membership at the Museum is the $50.00 Family Membership. The benefits included in this membership level include a 10% discount on purchases from the Museum Gift Shop and admission to the annual Heritage Night at the Museum event, where one can easily consume food and beverages worth more than the cost of a membership. The real value of memberships to non-profit organizations is having an up-to-date mailing and contact list; the membership list demonstrates to grantors and sponsors the level of commitment by the public to the organization’s mission. Museum memberships can be purchased online or by phone.
Unrestricted cash donations are the primary funding source for most non-profit organizations, including the Mt. Hood Cultural Center & Museum. The Museum depends on cash donations to cover day-to-day operating expenses such as electric, heating, insurance, staff payroll and other overhead costs. Cash donations range from the dollar bills visitors drop in the tip jar to the several thousand dollars many individuals donate annually to support the Museum. Donations can be made at any time online, in person or by telephone. All donations to the Museum are deductible from both Federal and Oregon state income taxes. Most cash donations are made in the month of December as people are evaluating their income tax situation. The state of Oregon provides an additional income tax incentive to encourage individuals to support Cultural Nonprofits.
Two decades ago, the Oregon Cultural Trust was created to improve funding for arts, heritage, and humanities nonprofits in the state. The Oregon Cultural Tax Credit is a mechanism that provides the incentive for Oregon income tax payers to donate funds to support cultural programs in Oregon.
Here, briefly, is how the Cultural Tax Credit works. First an Oregon taxpayer donates to a cultural nonprofit organization. They then make a matching donation to the Oregon Cultural Trust. Both these donations are deductible on Federal and Oregon Income Tax. The extra incentive to support cultural nonprofits comes when one files their Oregon Income Tax – they can claim a tax credit of $500.00 for an individual or $1000.00 for a couple. The Cultural Tax Credit directly reduces the amount of income tax owed. The Oregon Cultural Tax Credit is somewhat confusing, so we recommend visiting www.culturaltrust.org for more information.
Cash donations to the Museum go into the General Operating Fund unless the donor specifies otherwise. Donors may direct their donation to either the Steiner Cabins Project Fund or our ongoing Capital Campaign Fund. Now is the time to donate to Mt.. Hood Cultural Center & Museum and claim your 2024 income tax deduction and your Oregon Cultural Trust Tax Credit. Donations can be made online at www.mthoodmuseum.org, or by phone at 503-272-3301.
Earned Income is another source of operating funds for nonprofits such as the Museum. Profits from the Museum’s gift shop and proceeds from the Heritage Night auction are the primary sources of earned income at this time. The gift shop stocks a unique inventory of items related to Mount Hood; the Mount Hood logo shirts, hoodies and hats are very popular. Mount Hood history books, both new and used, are always in stock. The artwork on consignment by local artists is outstanding.
The Museum and gift shop are open every day, 9 – 5. The proceeds from your gift shop purchases support the nonprofit museum and we thank you for that support.
Lloyd Musser is a volunteer of the Mt. Hood Cultural Center and Museum.