$25,000 Sparling Endowment

A Challenge for the Future

February 8, 2016

UPDATE MAY 6, 2016: The challenge has been met!

Dr. Sparling at the Festival the day he announced the Sparling Endowment photo credit: Marcy Stamper

The late Dr. Gerald (Jerry) Sparling pledged $25,000 towards a permanent endowment for the Festival with one provision: that we raise an equal amount.

Your contribution to the Sparling Endowment will help sustain the Festival far into the future, providing musical enjoyment for generations to come.

Jerry's estate will match  contributions dollar for dollar up to $25,000.

As of May 6, 2016, the Festival has met the full amount of the good Doctor's challenge.

We thank everyone whose generosity fulfilled Jerry's dream of beginning an endowment for the Festival. Further contributions to the endowment will always be welcome, although such contributions will no longer be matched by the Sparling estate.

The Festival will receive the proceeds from the endowment investments, but not the principle. We expect to receive about $2500 per year beginning in 2018. These funds will replace grants that are getting ever harder to receive. As ticket prices only cover less than one third of our annual budget, we will still always need your regular annual donations to carry the festival forward.

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Frequently Asked Questions

How will the Endowment affect the Festival?

The Festival will receive the proceeds from the endowment investments, but not the principle. We expect to receive about $2500 per year beginning in 2018. These funds will replace grants that are getting ever harder to receive. As ticket prices only cover less than one third of our annual budget, we will still always need your regular annual donations to carry the festival forward.

How much interest will the Endowment generate?

The Sparling Endowment is a dedicated or restricted fund administered by the Community Foundation of North Central Washington. After Jerry's matching gifts are received the Endowment should have a total of $50,000 to invest. Proceeds are paid to the festival annually. Historically, endowment payouts have been in the range of 5% after inflation, yielding in our case about $2500 per year starting with the 2018 season. The Endowment will continue to grow through new additions or investment growth to provide a long term sustaining source or revenue for the Festival.

Can I put the Festival in my will?

Yes. Place a provision in your will directing the executor or administrator to make a gift to the Sparling Endowment at the Methow Valley Chamber Music Festival, P.O. Box 249,  Winthrop, WA 98862,

Is there a deadline for contributions?

No. We will accept Endowment contributions at any time. Matching funds will be disbursed to the first $25,000 of contributions that arrive on or before August, 2020. After the matching portion of the program has been completed, the endowment fund will remain open indefinitely for those who wish to give the festival a memorial grant in Dr. Sparling's name. 

What happens if the Festival quits operating?

Your gift will live on. In the event the Festival ceases to exist for any reasonthe proceeds of our endowment will be used for related purposes supporting music and the arts in the Methow Valley.

Are contributions tax-deductible?

Yes. The Festival is a nonprofit corporation operating under the charitable rules of Section 501(c)3 of the Internal Revenue Code.

Can I donate directly from my IRA?

Yes. For tax year 2016, Congress adopted new rules for donors who are taking mandatory distributions from an IRA. According to the new rules, funds in an IRA given tax-free to the Festival may be counted as a credit towards the required distribution amount. Check with your accountant or IRA manager to make sure your proposed gift will qualify.

How do I donate to the Endowment?

Make checks payable to "Methow Valley Chamber Music Festival" and mail to PO Box 249, Winthrop, WA 98862.  Be sure to note "Sparling Endowment Challenge" in the memo field of your check.
To pay by credit card, visit www.methowmusicfestival.org select "About", then "Support the Festival".  When you click the "donate now" button, you will be directed to EventBrite, our third-party ticket provider.
We can also accept gifts of stock and a few other types of appreciated items. To learn more, please contact our Executive Director: info@methowmusicfestival.org.

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