CRESCENDO NEWSLETTER F O R
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VOL. 3 ISSUE 4 | June 2019
YOUNG MEN’S CHORUS CAPS HOT STREAK WITH IRELAND TOUR On June 22, members of the H+H Young Men’s Chorus will embark on an eight-day tour to Ireland, capping a successful season and marking five years of tremendous growth. Since 2014, the YMC has nearly doubled in size to include 40 singers and has appeared on numerous occasions alongside the professional H+H Chorus—most recently as part of the season-ending Mozart’s Requiem. The summer tour, which also includes members of the Young Women’s Chorus, stops at Galway Cathedral and Christchurch Cathedral in Dublin. H+H’s talented students will perform, perfect their art in master classes with Irish musicians, and sing with a local choir in Galway. Donor support makes all this possible, and H+H is especially grateful to Lucas Wegmann, whose endowment of the YMC in 2016 and annual support since has allowed for its recent growth and standout successes. Wegmann is an H+H subscriber, retired finance executive, and resident of Maine. Lucas Wegmann, right, with Liam, Neil, and Molly, members of the H+H Youth Choruses
“Young men need the opportunity to grow and develop in a demanding and deeply meaningful manner,” he recently shared. “The Young Men’s Chorus requires discipline, determination, commitment, and significant sacrifice, all of which lead to personal growth and musical reward. I support YMC as a way of recognizing, encouraging, showing appreciation and respect for the efforts of these young men and their leader, Dr. Kevin McDonald.”
H+H is also grateful to those donors who generously provided scholarship support for this year’s tour: Carolyn and Bill Aliski, David B. Elsbree and Lorraine Gilmore, Joseph M. Flynn, Philip Gerdine, Suzanne and Easley Hamner, Maryanne King, Mary and Sherif Nada, Nancy Nizel, Patricia and Leonard Rosenthal, Emily F. Schabacker, Dr. Mary Jane Spiro, Janet Whitla, Elizabeth and Robert Wax, and the Parachute Fund.
NEW WAYS OF GIVING AS H+H NEARS END OF FISCAL YEAR
PHOTO: CHRIS PETRE-BAUMER
H+H is gaining momentum as we approach June 30, the end of our fiscal year. Our donors have been more generous than ever before, with record levels of support from individuals. Many are giving through Donor Advised Funds (DAFs), and recently this has become even more flexible. We talked to Mike Peluse, Vice President of Development, to find out more. Can a contribution made through a DAF fulfill an individual’s pledge? Mike Peluse: Absolutely! Recently issued guidance from the IRS addresses several different uses of a DAF, including the fulfillment of legally binding pledges. Before, it was unclear whether the donor was allowed to commit DAF funds to fulfill a pledge to a charity, since the DAF sponsor legally controls and disburses the funds. Because of this, DAF sponsors would not typically approve funds to satisfy binding pledges. However, since the IRS announced Notice 2017-73, using a DAF to fulfill a donor’s pledge to an organization has been deemed acceptable under certain circumstances.
Why did the IRS rules change? MP: This change is due to the fact the IRS has determined DAFs to be pass-through vehicles, meaning they consider the funds distributed from the DAF as coming from the individual donor, rather than coming from the DAF sponsoring organization. This ruling is in part due to the fact that the donor has a reasonable expectation that the DAF sponsoring organization will fulfill their wishes for a charitable distribution. Though these gifts are now acceptable to the IRS, have they placed any restrictions that donors should know about? MP: There must be no reference to the pledge in making the distribution from the DAF to the charity, the donor/advisor cannot receive anything more than an incidental benefit in exchange for the gift, and the donor/advisor may not claim a charitable deduction for the DAF distribution—even if the charity receiving the distribution sends the donor/advisor a tax acknowledgement. If you have made a pledge to H+H and would like more information about fulfillment through your DAF, please contact the development office at 617.262.1815, or visit our website at handelandhaydn.org/support/ways-of-giving/.