North American Singers Association Foundation
The Nord-Amerikanischer Sängerbund has created a charitable foundation that will provide for scholarships and other charitable gifts. We are very happy to announce that the IRS has approved the North American Singers Association Foundation. Contributions to the Foundation will now be tax deductible to the extent provided by law.
What kind of contributions can I make?
Certainly, the first that come to mind are memorial contributions, in lieu of flowers, and contributions in honor of someone. Further, the Foundation will be able to be named in your will and accept bequests made through death. That makes a bequest a perfect way to make a gift that will live after you have died. The Foundation will also be able to accept property transfers, such as stocks and bonds. Your attorney, certified public accountant, financial consultant or estate planner can help you decide on the merits of making a provision for the Foundation in your Will or other charitable giving
What will happen with donations? The Board of the Nord-Amerikanischer Sängerbund serves as the Board of the Foundation and will appoint various committees to oversee activities of the Foundation, including charitable contributions, educational opportunities and scholarships.
Until the size of the Foundation warrants special attention, the Treasurer of the Sängerbund serves as the Treasurer of the Foundation.
How do I make a donation? Simply make your check payable to the North American Singers Association Foundation and mail to the Foundation Treasurer. The Foundation will acknowledge the receipt of memorial contributions. Those making a bequest should include language bequeathing a fixed dollar amount or percentage to the North American Singers Association Foundation. Those wishing to donate property should contact the undersigned for further information.
Why should I make a donation? The purpose of this Foundation is to support education; charitable causes and scholarships that will help perpetuate German Song and advance the causes of the Nord-Amerikanischer Sängerbund. Your donations will help perpetuate what we, as singers, have been doing for many years. Contribution envelopes for use with donations are available.
We hope that you will consider the Foundation in your annual and long term charitable plans. If you have any questions, please don’t hesitate to contact either of the undersigned.
Mit freundlichem Sängergruss
Gary Luther, NASB President
Glenn Bogerg, Chairman, Foundation
The Annual Programs Fund is the cornerstone of our Foundation. It seeks annual, unrestricted gifts from our Singers and others who agree with our purposes, as well as memorial contributions. Funds received for the Annual Fund will typically be held three years before being disbursed. Contributions will support our purposes and provide funds for educational and cultural programs. Our choruses and the Foundation’s Board will share in decision–making for program support. Gifts typically come from discretionary income such as cash, stock, etc.; Capital assets and major gifts are also accepted. This Fund is the key to the Foundation’s role today.
The Permanent Fund ensures the Foundation’s future as it is invested in perpetuity. A portion of the Fund is allocated to benefit Foundation programs every year. It will be an endowed Fund invested permanently to build long-term stability. It supplements the Annual Programs Fund. Gifts are made through capital assets and bequests to build a legacy. This Fund is the key to the Foundation’s role tomorrow.
The Annual Programs Fund and the Permanent Fund are equally deserving of your support; they complement each other. The Annual Programs Fund supports programs today; the Permanent Fund is designed to secure those programs for the future.
We invite you to invest in today’s NASA Foundation by making yearly gifts to the Annual Programs Fund. And we invite you to invest tomorrow by designating a gift from your current assets or a portion of your estate to the Permanent Fund. And remember, gifts to the Foundation are tax-exempt.
Create a legacy through the Permanent Fund
The Permanent Fund builds long-term stability for the future of the Foundation by providing an extra stream of annual income to support the programs of the Foundation.
Become a Benefactor
A Benefactor of the North American Singers’ Association Foundation is anyone who informs the Foundation in writing that he or she has made provisions in his or her will, or other estates plan, naming the Foundation’s Permanent Fund as a beneficiary; or anyone who makes an outright gift of $1,000 or more to the Foundation’s Permanent Fund. Benefactor will receive a plaque commemorating their gift.
The Foundation appreciates information about commitments from which it will benefit in the future. We recognize the highly personal nature of these commitments. Unless we receive other directions from you, Benefactor recognition will be sent to your chorus president. The Foundation is grateful for your gift and for your permission to publish your name as a benefactor so that your example may inspire others.
If you are drafting a new will or codicil or establishing a trust, the following is sample language that can be used in making a bequest to the Foundation: “I give to the North American Singers’ Association Foundation, an Illinois notfor-profit corporation, (insert here the sum, description of property, or percentage of residual estate). This gift is to be placed in said Foundation’s endowment, the North American Singers’ Association Foundation Permanent Fund, from which a spending portion will be used to support the
Foundation’s activities and programs.” The spending portion will be directed to support Foundation programs as determined by the Board of the NASA Foundation.
The Foundation urges you to seek advice from a legal or financial professional of your choosing in all matters pertaining to a bequest or living trust.
Gifts of Appreciated Securities
A gift of appreciated securities (owned for more than one year) to the NASA Foundation can greatly benefit a donor by providing tax benefits through a charitable income tax deduction.
Please check with your financial advisor on how these tax benefits may apply to you.
On the gift date, the donor would
- Receive a charitable income tax deduction for the full fair market value of the securities
- Avoid paying capital gains taxes on the appreciated securities resulting from the sale of the securities
- Help the Foundation further its programs.
Five years ago, Singer and Frau Schmidt invested $10,000 to purchase 1,000 shares of common stock at $10 per share. Today, the stock is worth $30 a share for a total value of $30,000, a capital gain of $20,000. If the Schmidt sold the stock outright, they would pay a capital gains tax of $4,000 or 40 percent of the amount originally paid on the stock. If the Schmidts gifted the stock to the Foundation, they would receive a $30,000 charitable deduction with a five-year carryover and avoid capital gains taxes.
The Foundation urges you to seek advice from a competent tax professional of your choosing in all matters pertaining to the tax treatment of gifts to the Foundation.
Gifts of Marketable Securities
Donors may transmit gifts of marketable securities to the NASA Foundation through their broker or by mail. Donors should notify the Foundation in writing as to whether gifts should be directed to the Annual Programs Fund or Permanent Fund.
It is the Board’s intention to publish an annual report of the Foundation’s activities. This will include a complete financial report, a report showing the programs supported by the Foundation and a listing of the names of Benefactors and contributors to the Foundation.
It is the Board’s wish that all singers will make the Foundation an important part of their charitable giving through annual pledges to the Annual Fund and bequests and other contributions to the Permanent Fund. However, Member Choruses should consider holding fundraisers to help raise funds for the Foundation.
What Projects will be supported?
Choruses are urged to recommend worthy charitable gifts and projects for consideration by the Board. The purpose of this Foundation is to support education, charitable causes and scholarships that will help perpetuate German Song and advance the causes of the Nord-Amerikanischer Sängerbund. The best way to meet the purpose is to get recommendations from the members. Approval for projects will be weighted in proportion to contributions from each chorus.
All contributions can be sent to:
North American Singers’ Association Foundation
Paul Bockstege, Treasurer
1917 Hawkeye Dr.
Evansville, IN 47720
Remember, your contributions are tax deductible!