Let me use that as a segue into my theme for this article ... giving. The year end is fast approaching, and now would be the time for you to get things in order for the coming tax season. In that vein, I would like to tell you about how you can help the Civic Center/Aviation Museum project and help yourself, as well.
Along with your commitment to the Civic Center and Museum, you can designate the amount of state income tax you would expect to pay in 2006 and have it go to this project by using a NAP credit. Keep your tax money in the community and help Build the Vision. You are going to have to pay taxes anyway ... why not tell the state where you want your tax money to be used!
Let me first address those individuals who have already made a pledge. We are extending an offer, only to previous donors, that involves the awarded NAP tax credits. Because you have already made a pledge to the campaign, you are being offered the opportunity to take advantage of this situation first, before those who are still being called upon for first-time pledges. Here are the details:
Your original pledge will remain intact and not change ... it is not subject to the NAP credit.
You may make a second donation to the campaign and 100 percent of the second donation will apply for the 70 percent NAP tax credit.
Your second donation must be accompanied with a check to fund the donation in its entirety as all credits are available on a first-come, first-served basis.
There is no maximum limit to the amount of the second donation.
There is a minimum for the NAP second donation of $1,000.
There is now another way to make a contribution to the Civic Center/Museum Project. Legislation recently passed by the U.S. Congress and signed by the President now allows individuals who are 70 or older to make transfers directly from their IRA account to a charitable organization like is the Building the Vision Campaign. When contributions are made in this manner, the IRA distribution is not reported as taxable income on your personal income tax return. This form of giving can be very advantageous to (1) those who typically do not itemize their deductions because those deductions are limited in amount and the standard deduction provides a better a better tax benefit, and (2) those who itemize their deductions, but the deductions are limited because the taxpayer has a large amount of income. This form of giving also allows someone to use IRS distributions for a charitable cause without impacting the taxable portion of their social security benefits. Simply put, this form of giving is potentially beneficial to all classifications of taxpayers (lower income, middle income, and higher income).
For those of you who have not yet contributed or made a pledge ... now is a great time to "come on board." By meeting our goal soon, we will be able to announce the "official" ground-breaking and finalize building plans. As I have reported several times, we have had (and continue to have) many calls from people who want to "book" the facility for an upcoming event. Once we have a firm date, we can actually reserve spaces for use of the Civic Center!
Please consider the following ways to contribute: five-year pledges, cash, securities, real estate, commodities, and insurance. All gifts are deductible as charitable donations in accordance with federal and Missouri laws. Donors may wish to consult with their tax advisors for guidance.
Proposed gift plans are the following: Founder ($100,000 +), Benefactor ($50,000-$99,999), Laureate ($25,000-$49,999), Patron ($15,000-$24,999), Sponsor ($10,000-$14,999), Associate ($5,000-$9,999), Director ($2,500-$4,999), Friend ($500-$2,999).
We have dedicated and knowledgeable people working with the campaign who will be willing and gratified to meet with you personally to answer any questions. By calling campaign headquarters at (660) 886-2630 or Bill Riggins at (660) 886-6070, you can arrange for one of our volunteers to call on you, at your convenience.
Finally, let me say that sharing the information with you about our aviation heritage and our plans for the Civic Center and Museum has been a pleasure for me. I hope to continue sharing that information with you. In the mean time, you are the ones who are going to make it possible for Marshall to preserve that heritage through the Nicholas/Beazley Museum. You are also the ones who are going to make it possible to provide this community with a place for meetings, celebrations, and gatherings that will not only benefit the users directly, but the city economically. You are the key. You are ultimately the ones who will say, "What a vision, What a dream, What a facility.....How did we ever do without it?"
Building the Vision appears Wednesday.