I have spoken with a number of members in the last few weeks and as a result I have two members from out of State that are willing to donate $1000 each, and choose to remain anonymous. They also challenged others to match them to get this project completed this fall and have it ready for the 2021 Gathering of the Orange (GOTO). I personally will donate a 3 ft. by 12 ft. double-sided sign mounted on a solid base, wired so it can be lit at night and landscaped around it, to recognize our existence there. A donation I would value at over 6k. Another member has volunteered to complete the final grading and landscaping around the building.
I am asking for all members to contemplate the meaning of this building project in our long range plan for the Orange Spectacular®. I spoke with our tax consultant and there is an option for anyone who needs to take a mandatory draw each year and it is described as follows:
For those members who would like to donate to the Upper Midwest A-C Club™ Building Fund, to help with the construction of the new Club building, please consider the following:
Persons age 70 ½ or older can donate up to $100,000 annually directly to a Section 501 (c)(3) charity via a Qualified Charitable Distribution (QCD). There are three benefits of a QCD: it is not taxable to you; it is not included in your adjustable gross income; and starting at age 72, it counts toward your RMD requirement. To make a QCD, the money must be paid directly from the IRA fiduciary to the charity. Anyone wishing to make a QCD should contact his IRA fiduciary or tax/legal consultant to make sure it is handled properly to obtain the tax advantages; the Upper Midwest AC Club™ cannot provide tax or legal advice.
I also want everyone to know that a donation of any size will be greatly appreciated and any donations would receive a letter from us, a 501c3 corporation, for tax purposes.
If you want to remain anonymous you may. We will establish a wall mount plaque recognizing donations. Finally, I believe adding this building to our plans for the 2021 GOTO will enhance attendance.
If you have any questions please call me and we can discuss this further.
Darrell Grams, Sr.