Below are answers to some Frequently Asked Questions about making donations:
Why should I support The Alexander & Buono Foundation?
There are many good reasons to support the Foundation, including the fact that 68 cents of every dollar spent by ABF is directed towards scholarships, study grants and educational programs for classical musicians at all levels of professional development, and the audiences interested in hearing them. Please browse our website to gain a better understanding of the work we do through The Alexander & Buono Competitions, our Festival, and Master Class Series and career consulting in order to see more reasons to support our work.
May I make a tax-deductible donation right now?
Absolutely! Just click here to choose the level of your donation. This is not only the best way to keep your information fully secure, it also allows us to keep processing costs low, and thus provide more funds to support musicians. We are a fully compliant 501(c)(3) not-for-profit organization, so your contribution is tax deductible to the fullest extent of the law.
Can I call ABF to make a donation?
By all means. You can call us at (212) 947-4503 anytime and speak to someone directly.
May I make a recurring gift?
Yes, without question. Just call our offices at 212-947-4503 with a credit card, and let us know how much you would like to donate and how often, and we will set up everything for you.
Can I make a donation by check?
Yes, just make out your check or U.S. money order payable to The Alexander & Buono Foundation and mail it to us at: 244 Madison Avenue, Suite 300, New York, NY 10016.
May I donate "in honor of" or "in memory of" a loved one?
Yes! Just call us and let us know the person in whose name or honor you would like to donate, and you will be able to request that ABF send a gift notification to whomever you designate.
Can I contribute to ABF through my IRA without tax consequences?
Yes! The IRA charitable rollover provision permits individuals age 70 and above to make charitable donations of up to $100,000 from Individual Retirement Accounts (IRAs) and Roth IRAs without having to count the distributions as taxable income. The IRA Charitable Rollover is intended to benefit donors at all income levels. You should consult your tax or legal professional to make sure that you meet all the criteria, and that your intended gift will qualify under this provision.
May I include the Foundation in my Planned Giving?
Yes! Planned giving encompasses all charitable gifts, which involves entities or vehicles associated with planning such as wills, trusts and other 'split interest' gifts. Your financial advisor can help you learn more about planned giving options, and we would be happy to guide you in the right direction.
Is there a simple way to include the Foundation in my estate plans?
Without question! Here is some sample language to share with your attorney if you would like to include The Alexander & Buono Foundation in your estate plans:
"I give, devise and bequeath to The Alexander & Buono Foundation, a not-for-profit organization having its administrative offices at 244 Madison Avenue, Suite 300, New York, New York 10016, for the use of its activities supporting and expanding the careers of classical musicians the sum of _____ dollars and/or _____ shares of capital stock of _____corporation and/or the following described property_____and/or_____% of my residuary estate."
May I donate shares of stock to the Foundation?
Yes! If you were thinking of locking in some of your capital gains this year, consider the more tax-efficient alternative of donating shares of appreciated mutual funds or stock to the Foundation instead. You can deduct the current market value of the gift for income tax purposes, just as if you had made a cash payment. As an added advantage, you will avoid any capital gains taxes you would have owed if you had sold the assets instead.
May I donate my life insurance policy to the Foundation?
Yes, you can! The substantial leverage involved in insurance would afford you the capability of gifting a significant amount for a relatively small cost; in return you would probably receive an income tax charitable deduction. Making a charity the beneficiary of a life insurance policy is one of the simplest ways of providing a bequest to those organizations you wish to support.
May I include the Foundation in my company's Matching Gift Program?
Many organizations offer to match charitable donations made by their employees to charitable organizations. Ask the corporate donations officer or your human resources department if your company participates, and if so, fill out an application form. This multiplies the impact of your gift! Even if your company doesn't have a program, you might be able to take advantage of the matching gift program of a parent, subsidiary or affiliate company.
What are some other ways I can help ABF?
We currently are working to build a sustainable endowment of ten million dollars. This would allow us to offer cash prizes to winners of The Alexander & Buono Competitions, as well as scholarships to Festival participants. In addition, we could also expand our audience outreach initiatives. Donations to this endowment, either on a one-time or recurring basis, will go a long way toward not only expanding our work, but sustaining it for many years to come.
You may also want to sponsor a concert. With a roster of world class artists affiliated with the ABF, you can host a concert for friends and family that will rival performances in the world’s best venues—and right in your own home. Guests will not only have an opportunity to meet and speak with the artists in an intimate setting, but also gain a broader understanding of the music being performed through the introductions and explanations given by the artists. Simply call us at (212) 947-4503 for more information.
If you are an employer, consider making a contribution to the Foundation in your employees' names, as a meaningful way to celebrate birthdays, holidays or other occasions when you might give material gifts.
If you have any questions about any of these alternate giving methods, call your financial advisor, or The Alexander & Buono Foundation -- we'd be delighted to provide more information. Feel free to contact us directly:
The Alexander & Buono Foundation
244 Madison Avenue, Suite 300
New York, NY 10016
TEL: (212) 947-4503
FAX: (212) 904-1302