Life is about chapters and we will be entering a new chapter for the StringsforaCURE® Foundation.
For the past 10 years, the StringsforaCURE Foundation has helped over 2,068 breast cancer patients, distributing over $466,314 to these patients through our programs. At the end of September, after celebrating 10 years of serving the breast cancer community on August 19th, it is with a heavy heart that our founder Elisa Guida, along with StringsforaCURE board members, Patti Larson, Brenda Berchtold and Donna Rose Sherrange, have made the difficult decision to dissolve our 501(c)(3) charitable organization. We are NOT closing StringsforaCURE due to a lack of funds. We are not a Covid Casualty; this decision was made over a year and a half ago, long before the Covid-19 pandemic.
By the time we dissolve the 501(c)(3), we will have provided close to half a million dollars to breast cancer patients and their families, through our many financial assistance programs both locally and nationally. This is really a time to celebrate what this small breast cancer charity has accomplished during those 10 years!
We would like to thank everyone who has supported our mission over the years. Without you, we would not have been able to help so many breast cancer patients. Everyone who has been involved with the StringsforaCURE Foundation should be very proud of what we have been able to accomplish over the years. This is a time to celebrate! Like everything in life, we have to do what is best, because it is time to do so.
What very few have known is that our founder, Elisa Guida, a two-time breast cancer survivor, has also been the full-time caregiver of her sweet mom, Mary, who is 97 years old. It is time for Elisa to concentrate on providing care for her mom as her only full -time endeavor.
For those wondering what the future holds for the StringsforaCURE® jewelry, Elisa Guida, a jewelry designer for over 45 years, will continue to design one-of-a-kind earrings, necklaces and bracelets from guitar strings donated by famous musicians and a portion of the proceeds from each sale will be donated to an existing breast cancer charity.
Will the StringsforaCURE® jewelry be tax-deductible?
The StringsforaCURE® jewelry that was ordered on or before June 30, 2020 will be tax deductible. Your jewelry donation is 50% tax deductible to the extent allowable by law. Each order comes with a letter and Internal Revenue Service Regulations require you to keep the letter with your tax records to substantiate a charitable contribution on your federal income tax return for a separate single contribution of $250 or more. StringsforaCURE provided goods in partial consideration for your contribution. The fair market value for each piece, which is 50% of the total price, is what you are allowed to deduct as your charitable contribution, if it pertains to your tax filing.
The StringsforaCURE® jewelry ordered on or after July 1, 2020 will no longer be a tax deductible donation. Elisa Guida will continue to offer the StringsforaCURE® jewelry, and a portion of each sale will be donated to an existing breast cancer charity and for this reason, the jewelry will not be a tax deductible donation any longer.
How much was raised from the jewelry during the time the StringsforaCURE Foundation was a 501(c)(3) non-profit charitable organization?
During the past 10 years, the jewelry accounted for only a portion of our fundraising. The guitar strings alone did not make any money for StringsforaCURE, it was only when the StringsforaCURE® jewelry was created and then purchased did the charity benefit from these donations. Most of our monetary fundraising efforts came from fundraisers within the Erie community. We had our annual “Pickin’ On Cancer” fundraiser that accounted for most of our fundraising efforts. The Foundation was about helping breast cancer patients financially, the jewelry was a way to get people interested in the charity.
Regarding the jewelry, during the Fiscal Year ending June 2019, 15.62% of our fundraising accounted from the jewelry, during the Fiscal year ending June 2018, 20.39% of our fundraising accounted from the jewelry. During our current year for the past 3 quarters it was: 14.75%, 19.93%, 15.47%. A lot depends upon how much other income there was through various other fundraising efforts.
We will end on a musical note: “Just because the band breaks up, doesn’t mean you’re going to stop playing the music!”