Together, let us work to further the cause of choral music in Iowa
THE YEAR OF THE $1000 CHALLENGE!
Thank you to the following
THE $1000 CHALLENGE...
Next summer at the 2015 ICDA Symposium, a Gala Event celebrating the Endowment Fund will be held on Wednesday, July 29 at 8:30 pm at the MacNider Art Museum in Mason City. This will be the culminating event of a year-long focus on building our Endowment. The goal is to double the Endowment providing long-time financial security for ICDA and allowing us to support special projects like our scholarship students and guest artists.
HERE IS HOW...
BY CHECK TO THE GCRCF: Make your check payable to: The Greater Cedar Rapids Community Foundation. In the memo of your check write: Iowa Choral Directors Association Foundation Friends Fund. If you wish to make it a memorial gift, write the name of the individual there also. Mail to: The Greater Cedar Rapids Community Foundation, 324 3rd Street SE, Cedar Rapids, IA 52401. At the same time, fill out this PLEDGE FORM with your information and donation level and return to ICDA Executive Secretary Joleen Woods, 209 Oak Ridge Drive, Mount Vernon, IA, 52314. This step is important so we can keep accurate records and credit you properly.
OR ONLINE TO THE GCRCF: You may also donate online with a credit card or e-check at the GCRCF, www.gcrcf.org
Please note: After making a donation through the Community Foundation either by mail or online, you will receive Endow Iowa Tax Credit (see example below) paperwork for your donation. Fill this out promptly and return to the address indicated. They will send you the necessary form so that you may claim this credit when you file your taxes.
OR DIRECTLY TO ICDA: Fill out this PLEDGE FORM and mail to Executive Secretary Joleen Woods.
Mark Babcock, 2015 Symposium Chair
GCRCF - ENDOW IOWA TAX CREDIT EXAMPLE
|Gift to Endowment||$1,000|
|Federal Charitable Deduction||$ - 350 (35% tax bracket)|
|State Tax Credit||$ - 250 (25% of amount of donation)|
|Net Cost of Gift||$ 400|
|Adjustment on Fed. Taxes|
|Reflecting State Tax Credit||$ + 70|
|Final Net Cost of Giving $1,000||$ 470|
ABOUT THE FOUNDATION
The poem above was written by Iowa music educator, Sandra Chapman of Fort Madison. Sandy knew well the transformative power music has over the minds and hearts of young performers and their audiences. A great challenge is looming on the horizon for those of us in the music education field. Increasing demands on classroom teachers are occurring as uncertain economic times may threaten to cut staff, facilities and programs. In the coming years a large number of teachers will retire from the profession and many positions will need to be filled. The training, mentoring and encouragement of this new group of music educators is an important matter, one in which we all can have a part. The “song must go on” and we can assist in carrying it into the future.
In 2004, ICDA established the Weston Noble Endowment Fund, a permanent savings vehicle for our nonprofit institution. Any interest earned in this fund is not subject to tax, and all donations are tax-deductible. As a general rule, principle funds will remain invested and only the interest will be spent. The ICDA Endowment Fund is managed by a committee comprised of the Executive Committee (President, President-Elect, Past President and Secretary/Treasurer) as well as other ICDA members.
In 2012, ICDA Endowment Fund Committee invested part of our funds with the Greater Cedar Rapids Community Foundation. As a result, contributions made to this account may qualify the donor for additional tax savings known as the Endow Iowa State Tax Credit. In addition to the regular federal charitable deduction, donors may receive a credit on their Iowa state taxes in the amount of 25% of their gift. Click HERE to donate on-line.
Please consider making a contribution to the future of choral music in our state. Together, let us work to insure that the “song will go on.”