Ticket sales cover approximately one-third of the Greenville Symphony Orchestra’s annual operating budget. The balance of the budget comes from our generous donors, whose continued support ensures that our music never stops. Your gift to the GSO’s Encore Society will not only support our Masterworks, Chamber Orchestra and Pops concerts, but also the many Education Outreach and community programs that are essential to teaching Greenvillians the importance of orchestral music.
Every year the costs associated with concert operations increase and the GSO relies heavily on the generosity of its patrons, donors and corporate supporters to offset these additional expenses- your help is needed to ensure the music continues playing on well into the future.
To learn more, download the full list of Encore Society Member Benefits.
Legal Disclaimer Regarding Current Tax Laws
Required Minimum Distributions
Congress made permanent the law enabling individuals over age 70 1/2 to exclude up to $100,000 of their required minimum distribution from income if the RMD is made payable directly to a qualified public charity. Individuals who are age 70 1/2 or older must generally take required minimum distributions from IRAs, profit sharing, 401(k), 403(b), 457(b) plans and other retirement plans by December 31. If donors have more than one IRA (of which they are the original account owner), they can take the RMDs for multiple IRAs from one account. The same holds true for 403(b) plans. Also, if someone inherited an IRA as a beneficiary, that individual will have separate RMD requirements for the inherited IRA.
Giving assets that have appreciated also provides key tax advantages to both donors and public charities. It often makes the most sense to donate appreciated assets — and the unrealized capital gains — to a charity instead of donating cash. In this case, everyone — with the exception of the Treasury department — wins. The donor receives a fair market value deduction for the asset donated and doesn’t pay gains on the gift. The charity receives the appreciated asset and, in turn, can sell the appreciated asset without paying capital gains tax and thus can keep the entire amount of the gift to be reinvested for potential tax-free or tax-advantaged future gain.