Legacy Endowment FAQs

Frequently Asked Questions

Q:         Are my donations tax-deductable?
A:         Yes.  ITG is a 501(c) 3 organization, and your donations are deductable to the extent allowable by law.  Immediately after receiving your donation, we will send you a thank you for your gift, along with the date and amount and the statement required by the IRS confirming that you received no goods or services in return for your donation.

Q:         Where are the funds invested?
A:         Funds are invested only in interest-bearing instruments that have a constant net asset value of 1.  That is, whatever the stock market, REITs, Hedge funds, etc. may do, our funds do not suffer any loss.  So, during the current economic downturn, our fund value did not drop at all.  In fact, we increased in value, due to the interest earned on the funds.

Q:         Doesn’t this limit the “upside” potential.
A:         Certainly.   If and when stocks rise significantly, our fund will continue to increase at whatever the current interest rate is at that time.  However, the ITG Board directed that our Legacy Endowment Fund be invested ONLY in instruments that would not go decrease in value, even in an extreme bear market.  This served us very well during the economic downturn of 2007-9.  So though we are protected from the downturns, we do not enjoy the fruits of the big upturns.

Q:         How much of the principal is used for projects?
A:         None of the principal is used.  Though we don’t yet have a set formula, we make certain that funding allocated to projects is less than that year’s earnings in interest.  That way, even if we were to receive zero contributions, the fund would continue to grow.

Q:         How does one contribute to the fund?
A:         There are several ways to contribute.  The most common is to simply write a check to “ITG Legacy Fund” in the amount you wish to give and send that check to the Legacy Fund Director, or the ITG Treasurer.  Make sure the check is written to the “ITG Legacy Fund” to ensure your donation will go to the Legacy Endowment.

Bill Pfund
International Trumpet Guild Legacy Fund
35629 County Road 41
Eaton, CO 80615-8910

International Trumpet Guild
625 West Deer Valley Road
Suite 103-469
Phoenix, AZ 85027-2140
Fax: 413-403-8899

Another way is to to use the "Donate" button on the right to give through PayPal. You can use any credit card account or donate directly through a PayPal account. You do NOT need to sign up for a PayPal account to donate using a credit card.

Another way is to transfer stock to the ITG, earmarked for the Legacy Fund.  This is an excellent method for maximizing your contribution and minimizing your tax consequences.  Though you should check with your financial advisor and/or tax advisor, this method of donating works like this.  Let’s say you have a stock that has appreciated in value considerably over the past years.  If you sell that stock, you will likely pay either income tax or capital gains tax on the money realized from that sale, as well as the broker’s commission for selling your stock.  If you gift the stock to the ITG Legacy Fund, it will be wire transferred to our ITG account, with no or minimal cost and no selling fee.  The stock will be sold by ITG and you will be credited for the value of the stock the day it is received by ITG.  Since ITG pays the selling fee, you have a tax deduction for the entire amount of the stock.  Again, please consult your tax advisor for complete rules and information, as tax rules may change again every year.

It may also be possible to gift other property, real estate, etc. to ITG.  For information on this, please contact the Legacy Fund Director.

Q:         Can I send stocks to the fund?
A:         Yes, and it is often an excellent way to maximize your gift to ITG.  See the notes for the question above.

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