Glyndebourne joins the Legacy 10 campaign to encourage charitable giving
Glyndebourne has become the latest charity to join the Legacy 10 campaign which seeks to encourage charitable giving in the UK.
The campaign dovetails with changes to inheritance tax rules which take effect on 6 April 2012. In future people leaving at least 10% of their estate to charity will pay a lower rate of inheritance tax than they have in the past.
Glyndebourne is a registered charity but is not dependent on public subsidy. Instead it is funded by box office income, its members and supporters. Their generosity has ensured that Glyndebourne is as independent today as it was when the first performance took place in 1934.
Andrew Higgins, Head of Membership and Development at Glyndebourne, said:
“As a privately funded charity, we rely in part on the generosity of our supporters to remain financially independent which in turn gives us our artistic freedom. Glyndebourne is very lucky to enjoy the passionate support of many people, some of whom go on to remember us in their will. We’re supporting this campaign to encourage other people who are in a position to do so to think about leaving a legacy to an organisation they’re passionate about. Not only is it personally rewarding but as of the 6th April there will also be improved tax advantages to this area of charitable giving.”
The Legacy 10 campaign is already supported by The Royal Opera House, The National Trust, Natural History Museum and Tate Gallery. The leaders of the three main political parties have also given the campaign their backing.