Reports

IBA Endowment Fund Committee Report – Spring Business Meeting

Friday, May 10, 2024

1.   The EFC had their spring conference zoom meeting on Wednesday, May 1, 2024.  Committee Members in attendance:  Steve Stickney - Chair (NE), John Aboud - Secretary (NC), Curt Ohrlund - Treasurer (NW), Chris Ewan – (SC), Myron Welch (SE), Chuck Teutsch (SW)

2.       EFC Treasurer’s report (see addendum #1)

3.   2027 IBA 100th Conference EFC gift pledge follow up discussion to Steve Shanley’s presentation at our February EFC meeting

·         Curt - Motion to make available up to $25,000 to assist the 100th IBA Conference Celebration committee as you plan for May of 2027.  The amount is contingent upon the 100th committee formalizing your request by submitting to the IBA Board and receiving their approval through the “Application for Endowment Fund Disbursement Form”.  Chuck 2nd – APPROVED

4.       The following sample language for bequeathing assets to IBA Endowment was discussed and will be added to the IBA website.

Direct Support to IBA:

"I give, devise and bequeath                                                           (describe dollar amount, property to be given, or proportion of residuary estate) to the Iowa Bandmasters Association, Inc., a nonprofit 501(c)(3) corporation, tax identification number 42-1525499.

Support to a Fund:

"I give, devise and bequeath                                                           (describe dollar amount, property to be given, or proportion of residuary estate) to Iowa Bandmasters Association, Inc., a nonprofit 501(c)(3) corporation, tax identification number 42-1525499, to benefit the Iowa Bandmasters Association General Operating Endowment, Endow Iowa Dean Fund, or Endow Iowa Fritz Fund, a component Fund of the Community Foundation of Greater Des Moines.

Important: When making a planned gift (such as a gift in your will, life insurance, retirement plans), please contact the Iowa Bandmasters when you choose to name the IBA as a beneficiary so that we can ensure your charitable intention(s) is/are fulfilled.

The appropriate wording for making a gift depends on the type of gift, state law and the donor's unique circumstances. Iowa Bandmasters urges all prospective donors to seek the assistance of personal legal and financial advisors in matters relating to their gifts, and the resulting tax and estate planning consequences.

5.       A recommendation has been sent to IBA President Cliff St. Clair and President-Elect Kyle Engelhardt to appoint Jane Triplett to succeed Myron Welch as the SE committee rep for a 3-year term (2024-2027).

6.       A list of 2023-2024 deceased members has been submitted to the Board of Directors to consider contributions of $50 each as a IBA Memorial contribution.

7.       The next EFC meeting will be February 2025 (exact date TBD).

Spring conference report submitted by Steve Stickney, EFC Chair

Iowa Bandmasters Association Endowment Fund Committee

Tuesday, February 13, 2024 - 3:30 pm

Winter Meeting (via Zoom)

Committee Members in attendance:  Steve Stickney - Chair (NE), John Aboud - Secretary (NC), Curt Ohrlund - Treasurer (NW), Chris Ewan – (SC), Myron Welch (SE), Chuck Teutsch [at 3:40] (SW)

Ex officio: Steve Shanley, Gene Gross, Cliff St. Clair [4:15]

3:30 – Meeting called to order.

1.       Community Foundation of Greater Des Moines - Ryan Douglas (and Kati Dray)

·         Ryan Douglas - EF investment update

                                                               i.      Report on investment status

                                                             ii.      Analysis of donors to endowment

                                                           iii.      Recommendations to improve how we promote the endowment to our membership

1)      Options regarding methods of donations

a.       Keep Iowa Growing - Noncash gifts (land, grain, etc.) are now an option

b.       Appreciated securities – Donations from big market gains to avoid capital gains tax

c.       Qualified Distribution (IRA Charitable Rollover) – If you are 70 1/2 and older, you can use your individual retirement account (IRA) to support your charitable giving through the Community Foundation. 

d.       Bequeath – provide legal language on the website.  Examples:

Percentage or Residuary of Estate
"I give, devise and bequeath _________________ (describe dollar amount, property to be given, or proportion of residuary estate) to the Community Foundation of Greater Des Moines, a nonprofit corporation located in Des Moines, Iowa 50309, tax identification number 42-6139033, to benefit the Better Together Fund (the Community Foundation's grantmaking program)."

Alternatively, you may establish an endowment for a specific purpose through your estate by stating:
"I give, devise and bequeath ________________ (describe dollar amount, property to be given, or proportion of your residuary estate) to the Community Foundation of Greater Des Moines, a nonprofit corporation located in Des Moines, Iowa 50309, tax identification number 42-6139033, to be added to the _______________ Fund, a component fund of the Community Foundation of Greater Des Moines, of which distribution and spending policy instructions are provided." 

(4:10 – Meeting re-established)

2.       IBA 100th Year (2027) Conference Planning Committee – Steve Shanley, chairperson

·         Discussion of committee membership

·         Commissions for All-State Jazz Bands by Iowa Composers

·         Travis Cross for All-Iowa 8th Grade Band

·         Researching a service band as premier concert

·         Funding sources

                                                               i.      Endowment Committee – Initial thoughts - possible Band Commission

                                                             ii.      District Contributions

                                                           iii.      IBA collected dedicated funds managed by endowment fund

A number of questions were shared regarding the event.

(4:45 – Meeting re-established)

Regular EFC Meeting agenda

3.       Secretary’s report of 2023 annual May (Spring) meeting

·         Meeting minutes were APPROVED by electronic vote

4.       Treasurer’s report (Curt) Below

·         Motion to Approve Myron, 2nd Chris - APPROVED

5.       Discussion of Steve Stanley’s presentation regarding 100th IBA

A.      Role of EFC in managing event funds discussed

a.       IBA Executive Board decision here

                                                                           i.      Possible additional account/s

                                                                         ii.      Possible donation drive

                                                                       iii.      Management options of donations (Curt)

If the IBA board charges the EFC with creating an account to manage these donations, it was agreed that the EFC, and Curt Orhlund (treasurer specifically), would look into the safest and highest earning options available - with Cd’s and Money Market accounts recommended 

b.       Donation amount from EFC to be determined

6.       EFC term ending/up for reappointment (additional 3-year term)

·         Chris Ewan – willing to serve another term

·         Myron Welch – retiring from committee (was an initial member of the EFC)

7.       Major Landers Certification Form update report from Curt.

8.       Requests or other items from the members of the EFC

9.       New business – Covered earlier regarding 100 IBA Celebration

10.   Next EFC meeting will be May 2024 – Date TBD

5:24 - Meeting adjourned

             Minutes submitted by John Aboud, EFC Secretary

IBA Endowment Fund Committee Report – Spring Business Meeting

Friday, May 12, 2023

1.       EFC had their spring conference zoom meeting on Wednesday, May 3, 2023

2.       EFC Treasurer’s report - attached

3.       Recommendation to IBA President Cliff St. Clair to reappoint Steve Stickney (NE) and Curt Ohrlund (NW) to an additional 3-year term (2023-2026)

4.       Revised Major Landers Certification Form reviewed with deadlines added for each semester approved

·         The form must be signed by a member of the college/university Music Department faculty and NOT by the Registrar’s office.   Deadline to receive scholarship funds is November 1 (Fall Semester) & March 1 (Spring Semester).  Scholarship recipients will receive one reminder notification approximately one month prior to the semester deadline.  Missing established deadlines will result in scholarship support being forfeited for the semester.

5.       A list of 2022-2023 deceased members has been submitted to the Board of Directors to consider contributions of $50 each as a IBA Memorial contribution.

6.       A representative from the Community Foundation of Great Des Moines will begin providing the EFC a financial update each year during our Annual (February) Meeting.

7.       IBA Summer Magazine ideas were discussed

8.       The next EFC meeting will be February 2024 (exact date TBD).

Spring conference report submitted by Steve Stickney, EFC Chair

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