OI FOUNDATION PASS THROUGH AND CLUB CAMPAIGN PROGRAMS
Feb 19, 2021 #3
The program today is not about asking or begging for money to support
Monaco South projects. It is about creating an awareness of how members
of Monaco South could make contributions to Monaco South projects. Why
is this more important today than in the past? The tree lot in a normal year
generates enough profit to run all our service projects for a year. With Covid
this year’s tree lot did well but nothing like the past.
Todays program is different from we give for example a dime a day to OIF.
Here the money goes directly to OIF tax deductible and stays there. The
only direct way that money comes back to Colorado kiddos is through the
scholarships for essay and oratorical. This could be a fraction pennies on
the dollar of of the money that was donated.
Todays program is about giving tax deductible donations to Monaco South.
A big benefit of giving to Monaco South is that 100% of your donation stays
here in Colorado and 100 cents on the dollar goes to the kiddos.
Let’s say a member of Monaco South wants to give $100, $500, $1,000, to
support a Monaco South project such as the Brain Bowl, Super Citizen, and
Christmas baskets.
If he makes the check out to Optimist Club of Monaco South, he has made a
nice donation, he feels good BUT he has gotten NO TAX DEDUCTION.
Why is this so? Because the Optimist Club of Monaco South does not
have 501c3 tax status. The Optimist International Foundation is a 501c3
charitable organization.
OI applied to the IRS to make all clubs in the US non profit 501c3 clubs
eligible to accept tax deductible contributions. The IRS did not approve the
proposal.
Optimist International realized this was a problem so they established 2
different programs so that local clubs could receive tax deductible
contributions. The programs are called the Pass Through program for short
term money donations that will be used by the club in the next year and Club
Campaign program for long term donations like an endowment or to
accumulate funds for a special big capital intensive project.
PASS THROUGH PROGRAM
The first program we are going to talk about today is the pass through
program. It is called the pass through program because your money passes
through the OIF and back to Monaco South.
When you make a donation to Monaco South you can designate what project
you would like to support or leave it up to the current board where they think
the money would do the most good.
Keep in mind 100% 100 pennies of every dollar goes to youth projects in Denver and
Colorado
1. Super Citizen Program
2.Eagle Scout Recognition Banquet
3.Know Brainer Competition
4.Bill Walter’s Boys and Girls Thanksgiving Dinner
5.Sullivan Scholarships
6.Thanksgiving Baskets
7.Christmas Baskets
8.Cub Packs and Boy Scout Troops
9.T J Craft Fair
10.JOOI Clubs
11.Hamilton Reading Program
12.Colorado History Day
13.Operation Student Supplies
14.Brain Bowl
15.Junior Golf
Suppose I want to give money to Monaco South using my will, obituary, and life insurance? For example in your obituary you could name the Optimist International Foundation fbo of Optimist Club of Monaco South, 3983 S Olive St. Denver 80237 as a place you would prefer donations go in your memory in lieu of flowers. The donors are being instructed to mail the check to the Treasurer of the club. You do not need to name a project. If no project is named currently the funds are being designated for the Super Citizen program at the discretion of the Board.