FROM THE EXECUTIVE
Director
Get a Head Start on Your
Planned Gifts for 2013
Every day I can hear joy in the voices of people enjoying Boyd Plaza,
every Saturday there are people buying fresh foods and crafts at the
Soda City Market, and now the CMA’s new façade is alive through
the installation of six large-scale banners that are eye-catching and
colorful – a new beacon for visitors that are highly visible during the
day and well lit at night. We have not seen such vibrant activity on
Main Street in decades. This is truly a new Main Street.
What is a Charitable Lead Trust?
Defined by Investopedia.com
A Charitable Lead Trust is a trust designed
to reduce beneficiaries’ taxable income
by first donating a portion of the trust’s
income to charities and then, after a
specified period of time, transferring the
remainder of the trust to the beneficiaries.
The whole idea of a charitable lead trust
is to reduce taxes upon the estate left by
the deceased. This is done by donating
to charities from the estate until all taxes
are reduced. Once this is accomplished,
the estate is then transferred to the
beneficiaries, who typically will face lower
taxes.
This is a great way to help individuals make
gifts to non-profits while reducing estate
and gift taxes for their heirs.
Life Income Gifts
Sharpe Group 2013 “Overview of the
Philanthropic Impact of the “American
Taxpayer Relief Act of 2012”
With investment values in many cases
recovered from recession declines and with
interest rates at record low levels, many
donors are choosing to fund charitable
gift annuities, charitable remainder trusts
and other life income plans. Higher income
and capital gains tax rates will make the
tax savings available from these plans even
more attractive than in the past.
Capital gains and qualified dividend rates
remain significantly lower this year than
taxes on other sources of income for gift
annuities, charitable remainder trusts and
other split-interest gifts. For that reason,
gift annuities funded with appreciated
stock and other gifts that result in
payments partially in the form of capital
gains are a great predictable source of taxfavored income for philanthropic gifts.
Front Cover: Pablo Picasso
Pierrot and Harlequin on a Cafe Terrace,
c. 1922 stencil on paper, ed. 29/100
8 1/4 x 10 1/2 inches
WAM 1950.1011
2
columbiamuseum.org
Karen Brosius
Executive Director
We know that the arts are good for the vibrancy of our community
and contribute to the quality of life of our citizens, but we also know – and show – that the
arts are good for business. Based on a 2008 economic impact study, the CMA generated
$23 million in economic activity and attendance is steadily on the rise.
Over the last five years, our operating budget has averaged $3.7 million, providing greater
economic investment in our community. This allows us to offer over 800 tours, lectures,
concerts, school and family programs, art classes, films and fun events every year. Each year,
we enjoy attendance from all 46 counties in South Carolina, plus international visitors from
around the world, making us a true cultural destination. Since 2008, we have seen our
tourism visitation significantly rise. We have gone from 40% of our audience coming from
outside the city and county to an annual average of 55%, even during a down economy.
What a thrill the last few years have been for Main Street. We are proud of our growth and
accomplishments to date, including recognition in national media, and we are striving to
be limitless and carry on that forward momentum. In our current planning, and building
on our high weekend and evening visitation, we are now focusing on the weekdays as our
newest opportunity to shine. From an expansion angle, we are seeking growth in adult
group tours from around the state, developing new programs designed for the many retirees
who are an ever-growing part of our community and hosting lunchtime programs for
those working downtown. Our economic impact and growth continues thanks to much
excitement from our members, our community and from cultural tourists.
One of my favorite ways to think about museums is said well by the philosopher Goethe: A
Museum should never be finished, but boundless and ever in motion. And that we are.
Board Member Highlight
Ann Holtschlag
It has been an honor and pleasure to represent the Docent Corps as an
affiliate board member for the past two years. We share our love of the
museum through the tour and studio programs initiated by the Education
Department. We are communicators and if we do our job well, our
skills and enthusiasm facilitate the museum’s mission of engaging the
community in art and increasing its membership base. In the past three
years we have organized by electing officers and a board and by writing
by-laws and guidelines.
There have been docents at the CMA since its inception. Being a docent is a selfish pleasure…
we do it for our own enrichment as well as for visitors. Art is food for the soul…we think of
ourselves as the volunteers who serve it up!