WHAT IS IT?
IDEA stands for the Illinois District Endowment Assurance fund. IDEA is an endowment fund established by the Illinois District at the April 1991 House of Delegates meeting in Peoria.
Put very simply, IDEA is an investment fund especially designed to generate additional income for the Illinois District.
BUT ISN’T THAT A DISTRICT PROBLEM?
Yes. Sure, it’s a District problem. But after all, YOU are the District.
WHAT’S THE SOLUTION?
IDEA! The Executive Committee and the House of Delegates feel the best way to handle the increase in our costs is to pursue other income-generating endeavors. Therefore, IDEA was born as the first of many different types of income-generating solutions.
HOW DOES IT WORK?
Contributions or donations will be invested in a fund (or funds) which will pay dividends and interest. The income generated by these dividends and interest will become new income for the Illinois District.
WHERE DO CONTRIBUTIONS AND DONATIONS COME FROM?
Anyone who believes in the good works of the District can become a benefactor. This includes individuals, groups (like quartets or chapters), non-barbershoppers, businesses, and corporations.
WHAT’S IN IT FOR ME?
First, since the Illinois District is a non-profit organization, your contribution is tax deductible. Second, you will be helping to perpetuate a worthwhile cause. Finally, you will know that you have helped preserve an organization that provides pleasure to you and thousands of others.
WHO WILL MANAGE THESE CONTRIBUTIONS?
Contributions will be managed by a special Board of Trustees appointed by the District President and ratified by the House of Delegates. In addition, a certified financial adviser may assist and participate in the investment decisions made by the Board of Trustees.
WHO ARE THE TRUSTEES?
|Robert (Bob) Cearnalfirstname.lastname@example.org|
|Joe Sullivan||(Emeritus) email@example.com|
|John (Jack) Windsor||(Emeritus)|
HOW LONG WILL THE TRUSTEES SERVE?
The Trustees will each serve a five-year term. The terms are presently arranged so that one Trustee will either be replaced or re-elected every year.
WHAT IS THE TRUSTEES’ GOAL?
The District is currently comprised of 28 chapters, 40 quartets and approximately 750 members. If each of these groups donated $100, the IDEA Fund would quickly grow by more than $80,000. Accumulated interest could then be used to help defray operating costs of the District. Who knows? Maybe we could even eliminate District dues entirely. (Numbers current as of 2018.)
WOW! $100 CAN SURE LEAVE A DENT IN ONE’S POCKETBOOK!
You’re right. Some can easily contribute $100, but others can’t. However, you can pledge and contribute whatever you can afford … when you can afford it. A kind of a “pay-as-you-go-Joe” plan for chapter dues. And remember, the $100 amount is not sacred. Any amount you choose will be welcome and will definitely help. However, $100 seems to be a reasonably affordable figure, and, if you think about it … it’s only $1.92 a week.
WHAT IS A QUALIFIED CHARITABLE DISTRIBUTION? AND WHY SHOULD YOU CONSIDER MAKING ONE TO IDEA? Great question! We wrote a whole post about it here.
OK, HOW DO I GET INVOLVED?
Send inquiries, contributions and/or donations to IDEA, c/o Bob Cearnal, 416 N. 9th Street, Mascoutah, IL, 62258. Contact Bob Cearnal via e-mail at firstname.lastname@example.org.
Want to apply for funding? Download the appropriate form below.