To Members and Supporters of the Richmond Theatre Community:
Many of you have learned recently about the critical health issues that our colleague Matthew Costello is facing. If you have not, you can learn more directly from the horse’s mouth, by visiting Matthew’s blog: http://matthewcostello.com/blog/
Matthew is a dear friend. Like many of you, my heart goes out to him in this time of need. If you would like to help Matthew address his financial challenges, I suggest you consider making a contribution to the Richmond Theatre Artists Fund at the Community Foundation – Serving Richmond and Central Virginia. If you choose to do so, here’s what you need to know.
Among the many rules that the Community Foundation lives by is this one: “Charity ends where certainty of the beneficiary begins.” What that means is that there is no way anyone can give money today or tomorrow to the Theatre Artist Fund at the Community Foundation with any guarantee, stated or implied, that those donated funds will go to Matthew Costello or anyone else. IRS rules are very clear on this.
Having said that, let me add that the Richmond Theatre Artists Fund and the Community Foundation are advised by a Committee of four active leaders in the Richmond theatre community. This Committee reviews requests and makes recommendations to the Community Foundation regarding how funds available through the Theatre Artists Fund should be spent.
The Committee will advise on the distribution of two types of funds. The first type comes from interest that already has been earned by the principal of the Theatre Artists Fund, and is available for immediate use. The second type includes donations that recently have been or soon will be made to the Theatre Artists Fund at the Community Foundation, IF these donations include the phrase “SPENDABLE PORTION” in the instructions (if contributions are made online) or on the memo line of the check (if contributions are made via the mail).
I know the workings of this Committee well; I trust them completely. I know they will make wise and appropriate decisions.
I am very eager to support Matthew in this time of need. I am making my contribution online to the Community Foundation (http://www.tcfrichmond.org/). I am making the contribution in honor of Matthew Costello (they provide the opportunity to do that). In the Instructions section (towards the bottom of their page), I am writing:
“For the Richmond Theatre Artists Fund. Spendable portion.”
If I were mailing in a check, I would make the check payable to the Richmond Theatre Artists Fund, and on the memo line I would write “Spendable portion. In honor of Matthew Costello.” The mailing address of the Community Foundation is:
The Community Foundation
7501 Boulders View Drive
Richmond, VA 23225-4047
I recommend this course of action to you and to all my colleagues and friends.
By making this gift to the fund and trusting the Committee, I will be able to support the Richmond Theatre Artists Fund AND count this gift as a tax deductible contribution.
If you would like to communicate with me further regarding these matters, please feel free to contact me on Facebook.
With great appreciation,