Frequently Asked Questions
How will the Endowment affect the Festival?
When you give money to our Endowment Fund, the Festival receives the interest from the investment, but not the principal. We expect to receive about $2000 per year beginning in 2018. These funds will replace grants that are getting ever more difficult to receive. As ticket prices cover only one-quarter of our annual operating budget, we will still always need your regular annual donations to carry the Festival forward.
How much interest will the Endowment generate?
The Endowment is a restricted fund administered by the Community Foundation of North Central Washington. Proceeds are paid to the festival annually. Historically, endowment payouts have been in the range of 4% of principal after inflation, yielding in our case about $2000 per year starting with the 2018 season. The Endowment will continue to grow through new additions and investment growth to provide a long term sustaining source of 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 Endowment Fund at the Methow Valley Chamber Music Festival, P.O. Box 249, Winthrop, WA 98862. Our federal tax ID is 91-1910063. To learn more, please contact our Executive Director Liz Johnson by email to: email@example.com.
Is there a deadline for contributions?
No. We can accept Endowment contributions at any time.
What happens if the Festival quits operating?
Your gift will live on. In the event the Festival ceases to exist for any reason, the 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. Beginning is tax year 2016, Congress adopted new rules for donors who are taking mandatory distributions from an IRA. 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. For gifts to the general endowment, please write "endowment fund" in the memo field of your check. For gifts to the Craig Sheppard Chair for Festival Piano, please write "Sheppard Endowment". We can also accept gifts of stock and a few other types of appreciated items. To learn more, please contact our Executive Director Liz Johnson by email to: firstname.lastname@example.org.