Thank you for your generosity this year. With your help, we are working together to make the future of bluegrass music brighter and share bluegrass with the next generation.
With the year not quite over, this is the perfect time for reflecting and giving back—and there are even some special tax savings available if you give before 2022 ends. If you gift rather than sell your appreciated investment, you can avoid capital gains taxation as well as tax due on future income from the investment. (If your asset has lost value from when you purchased it, you would be better off selling it before the gift, using the investment loss as a tax deduction.) Because you are making a gift of an asset rather than from current earnings, your gift will have less of an impact on your cash flow. If you have any questions about donating appreciated securities or bonds, please contact us. Gifts of musical instruments are also appreciated. A donation to the IBMA Foundation in honor of a friend or family member as a holiday gift is also a great idea.
To help you with your plans for year-end giving, we have some important reminders to share:
- Our office will be open Monday – Friday from 9 a.m. – 5 p.m. Eastern time. If you seek gifting assistance outside office hours, please leave a message on our voicemail at (615) 260-4807 or email Nancy Cardwell at info@bluegrassfoundation.org.
- Gifts mailed through the U.S. Postal Service must be postmarked by December 31, 2022, to be credited in 2022. If not otherwise specified, gifts received in December will be divided equally among the IBMA Foundation, the IBMA Trust Fund, and the International Bluegrass Music Association. Make all gifts payable to “The IBMA Foundation,” with a note if you want it to support a different split among the three organizations or a particular grant or scholarship program.
- Online gifts may be made until 11:59 p.m. ET on New Year’s Eve. Click here to make your year-end donation online now. (Info at https://bluegrassfoundation.org/donate
- Gifts arriving via UPS or FedEx must be received at the IBMA Foundation by 3:00 p.m. on December 31, 2022 to be credited in 2022. Our address: IBMA Foundation, 1183 University Drive #105-215, Burlington, NC 27215.
- Please notify us now of any gifts you plan from more complicated sources such as stock, IRA distributions, or electronic fund transfers, as these will require extra time and coordination to arrive at the IBMA Foundation by year’s end.
- If you would like assistance in choosing where to share your generosity this year, please contact us at info@bluegrassfoundation.org or consider gifting to one of our endowed funds at the Community Foundation of Middle Tennessee.
Thank you again for making sure that the spirit of generosity remains alive and well in the worldwide bluegrass music community. We look forward to working with you in 2023.
RETURN to the December, 2022 issue of The Cornerstone.
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