Gifting Options

There are a number of options available to an individual or organization who wishes to contribute to the AIC Endowment Fund. Always keep in mind that any dollar amount is graciously accepted.

Gifts to endowment funds are invested and only the earnings can be used for a fund's intended purpose. You can help preserve and encourage barbershop harmony far into the future with these options.

The Internal Revenue Service has accorded a 501 (c)(3) charitable status to the Harmony Foundation, including the AIC Endowment Fund, so any donations you wish to make are tax-deductible to the full extent of the law.

Corporate Funds-Matching Programs

This type of program is an excellent choice to maximize smaller contributions, although it is often overlooked.
Many companies, both public and private, offer associates and retirees the opportunity to contribute additional funds to their favorite educational, fine arts, and cultural charities through Funds-Matching programs. When a current donation is made to a qualified charitable organization, companies typically match these funds on a 1-for-1 or even a 2-for-1 basis, depending on the type of organization receiving the funds and the amount of the donation. The AIC Endowment Fund qualifies for these funds because of its affiliation with Harmony Foundation and the fact that it supports programs that fall into the 'arts and culture' category. If your company offers such a program, please consider this option to increase, perhaps significantly, the amount of your contribution.

Individual Gifts

These are gifts made by an individual donor, for a given dollar amount, that are payable immediately to the charity of choice. The gift amount and gift purpose, if applicable, are recorded by the charity, and the donor in turn receives the appropriate receipts that are required for a current year tax deduction. These gifts are often made on behalf of or in memory of another person or group. These gifts are usually made in cash, by check, or by credit / debit card. They may, however, be non-cash assets, such as corporate bonds, company stock, stock options, or other investment instruments that have current value. In this case, the asset is legally transferred to the charity, and may be held or converted to cash by the Trustees of the charity.

Family or Group Gifts

These are similar to individual gifts, in that they are payable immediately to a given charity, but they are given by a family, members of a family, or by any group of people brought together for a common purpose. Like individual gifts, they are often made on behalf of or in memory of another person or group. These gifts are usually made in cash, by check, or by credit / debit card. They may, however, be non-cash assets, such as corporate bonds, company stock, stock options, or other investment instruments that have current value. In this case, the asset is legally transferred to the charity, and may be held or converted to cash by the Trustees of the charity.

Estate Gifts

These are gifts that are passed along to a given charity through an estate when an individual donor passes away. They may be cash gifts or non-cash gifts, and are legally transferred to the beneficiary charity once the individual’s estate has been settled. These gifts provide an individual an excellent opportunity to “give back” to an organization with which he or she was affiliated. An attorney or financial planner who is well-versed in estate planning can help you set up these gifts as part of your estate.

Trust Gifts

Another popular option is gifting through trusts, legal instruments that are created for specific purposes. Trusts can be set up to fund charitable organizations while an individual is living, or after they pass away. Multiple beneficiaries may be named within a trust, so a variety of charities may be served in this manner. An attorney or financial planner who is skilled in establishing and maintaining trusts should be consulted if you are thinking about this type of gifting.

Life Insurance Gifts

A very popular gifting option is Life Insurance Gifts. These gifts can easily be made to charities through life insurance policies that name one or more charitable organizations as beneficiaries. This type of gifting can be accomplished by almost any individual or group, and is surprisingly easy and affordable. An individual can establish a policy on their life, or on the life of someone else. Similarly, a group can establish a policy on one or more members of that group, and make a sizeable charitable donation to any qualified organization on behalf of that group. Different types of life insurance policies are available, including term and whole-life insurance. Consult a financial planner or an insurance agent for more details on this type of gifting.