• Editor's Farewell
• National Conference Reviews
• 2011 Raabe Prize Winner:  Zeb Highben
• Faithful Servant Awards:  Bighley & Rimbach
• Saint Cecelia
• Survey: Lutheran Summer Music Works
• Bärenreiter: New Editions of Sacred Music

 

 

Our Bylaws require that the Board affirm an "acting chair" in the event that the elected chair is not present. In response to Lorraine Brugh's leave of absence, the Board recently voted to appoint our elected Secretary/Treasurer, Kevin Barger, as the Acting Chair of the ALCM Board of Directors until the January 2012 Board meeting. At the time of that meeting, Lorraine will resume her leadership role. This allows the Board to discuss and conduct corporate business. Kevin and Lorraine have been and will continue to be in consultation during this time.

 

Plans are well underway for the development of a two year budget for 2012-2013.

 

Believe it or not, we are still finalizing some financial items related to the 2011 National Conference in Seattle. While we still do not have final results, all signs would be that the conference was financially solvent and we should have well-established reserve funds to be used for the planning and implementation of the 2013 National Conference in Valparaiso, which has already begun.

 

David Deery, a long time ALCM member, died in July and ALCM was named as a recipient of funds from his estate. This gift will be useful to the long-term planning of ALCM. When the Board meets in January, it will discuss both investment opportunities for some of these monies in order to keep a strong financial base for the organization as well as shorter-term projects designed to improve the day-to-day operations of ALCM.

 

 

 

 

Occasionally, you hear good news from the IRS, and this is one of those times. The good news here is that the IRA rollover has been extended, which could significantly benefit ALCM!

 

Tax legislation which includes the extension of the IRA Rollover was signed into law December 17, 2010, returning an opportunity for individuals to make a charitable gift by directing a transfer from a regular IRA to qualified 501(C)(3) organizations of their choice (like ALCM!). The extension expires December 31, 2011. All gifts must be completed by that date.

 

Who qualifies?

Persons who are 70½ or older may direct an amount up to $100,000 per individual or $200,000 per couple (with separate annuities) without incurring a taxable event. The gift would qualify for the annual required minimum distribution.

 

How does it work?

The IRA owner makes a written request to the IRA administrator to make a gift to a 501(C)(3) organization of his/her choice (such as ALCM). The donor would also notify the receiving organization of the forthcoming gift.

 

What are the benefits of a donor's gift from an IRA?

Donor avoids taxes when gift is completed prior to December 31, 2011. Donor may fulfill a pledge with a transfer from an IRA. Donor's gift qualifies for required minimum distribution. Donor takes advantage of legislation that encourages gifts and makes a difference in the lives of others.

 

Should I be aware of other information or restrictions?

Yes. The donor pays no taxes on the gift amount; at the same time, however, the donor may not claim a charitable deduction for a gift made through an IRA rollover since it is not received as income.

 

For additional information, check with your IRA administrator.