Looking back over the past two years, particularly the thrilling weeks of the 2013 Cleveland International Piano Competition, we are filled with gratitude by the support we have enjoyed from so many individuals in Northeast Ohio and beyond.
This support was evident in our largest and most successful Competition ever, held this past summer at the Cleveland Museum of Art and Severance Hall. A professional survey taken this year indicated that 87 percent of those responding rated their experience at the event “excellent.” We are very proud of this result, which reflects well on our entire community.
The support of individual donors is essential to our success. It allows us to present the performances and activities that have become important to so many people, and to focus on our four program areas:
- Ensure that the Cleveland International Piano Competition and Festival is bigger, better, and more interesting for the audiences every time it is presented.
- Showcase extraordinary talent through our acclaimed Concert Series.
- Nurture the development of the next generation of concert pianists through the Young Artists Competition.
- Keep music and art in the lives of the elderly and others in our community who may need it the most.
Please consider making an end-of-year gift to our 2013 Annual Fund. Your support will help us continue to keep music in the hearts of Greater Clevelanders and many others around the world. PLEASE CLICK HERE TO MAKE A DONATION.
Read on for another way to give!
Thanks to the flexibility of our tax laws, there are many ways to make charitable gifts that can be of benefit to both the recipient and the donor. Please consider these two options, which are two of the most tax-favored ways of making charitable gifts.
Have appreciated stock? With the stock market hitting record highs, consider a gift of stock you’ve held one year or longer. There’s a double tax benefit. (1) You deduct the current fair market value of the stock. (2) You avoid the capital gains tax and new 3.8% Medicare tax that you would have paid if you had sold the stock.
Have an IRA and are 70½ or older?
Congress has extended the IRA charitable rollover, but for 2013 only. You may make a contribution of up to $100,000 directly from your IRA to the Cleveland International Piano Competition. If you’ve not already received your 2013 required minimum distribution, an IRA charitable rollover will count toward your required minimum distribution and avoid federal and Ohio income taxes. (If you’ve already received your 2013 minimum required distribution, it must be included in your income but you may use it to make a personal contribution to CIPC subject to the usual charitable deduction rules.) If your spouse has an IRA and is over 70½, your spouse may make a separate rollover contribution direct from his or her IRA of any amount up to $100,000.
Please call D’Arcy Kovach in the Competition office at 216-707-5397 to begin arranging your stock or IRA contribution well in advance of December 31. Remember to consult your tax advisor before implementing any of these plans!