corvair lineup with earlies
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Uncategorised (19)

Closely Held Stock

If you hold stock in a closely held business, you may be able to use that stock as a powerful way to support our future.  Closely held stock is most often used to support our work in the form of:*

  • An outright gift. You can make a gift of closely held stock as long as the constituting documentation for the business permits additional owners and it is debt-free.  The donation of closely held stock first requires you to value the interest in the business entity.  Review this checklist to see if you may benefit from donating closely held stock.  Then, consult your professional legal and tax advisors to see how to maximize the benefits of this tax-efficient strategy for making a difference.
  • You are a majority shareholder in a closely held corporation.
  • You would like to maintain a controlling position in the corporation’s outstanding stock.
  • You would like to avoid capital gains taxes on the shares you donate to the Corvair Preservation Foundation.
  • You would like to receive a federal income tax deduction for the full appraised value of the gift.
  • You would like to support our mission.
  • A gift in your will or living trust.  If you are not ready to make a gift of these assets during your lifetime, consider making a gift of all or a portion of your closely held stock through a gift in your will or living trust.
  • A charitable gift annuity.  Funding a charitable gift annuity with closely held stock not only provides you with fixed payments for life and allows you to support our work, but it can offer numerous financial benefits . You may receive a federal income tax deduction and, if you use appreciated stock, you can eliminate capital gains tax on a portion of the gift and spread the rest of the gain over your life expectancy.  It is possible to contribute stock in either a C or S corporation in exchange for a charitable gift annuity. The contributed shares must be valued by a qualified independent appraisal whenever the deduction exceeds $10,000. The appraisal is required in order to substantiate your federal income tax deduction.
  • A charitable remainder trust.  You may be able use your all or a portion of your closely held stock to fund a charitable remainder trust.  If you do, you receive a federal income tax deduction for your gift and there is no immediate capital gain on the portion gifted to the trust.  The trust pays you or other named individuals payments every year for life or a term of years.  When the trust term ends, the remaining principal goes to the Corvair Preservation Foundation as a lump sum.  Although a charitable remainder trust with a flip triggering event works well with most business interests, this type of trust cannot be the owner of S Corporation stock.
  • A charitable lead trust.  In certain situations, you can create a charitable lead trust that allows you to pass your closely held stock to your heirs after supporting the Corvair Preservation Foundation.  The trust makes regular payments to the Corvair Preservation Foundation for a period measured by a fixed term of years or the lives of one or more individuals.  After the term ends, the remaining assets, including any appreciation, pass to your heirs.  A properly designed lead trust will produce an estate or gift tax deduction for the value of that portion of the trust designated for the Corvair Preservation Foundation.

* A gift of closely held stock requires special handling, so you should always consult with your legal or tax advisor first.

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Tangible Property

Did you realize that valuable antiques, stamp and coin collections, works of art, cars, boats, and other personal property can be used to support our work?  Your treasures can make suitable charitable gifts today or after your lifetime.  The financial benefits of the gift depend on whether we can use the property in a way that is related to our mission.

  • Related use property—e.g., a unique piece of Corvair memorabilia—is deductible at the full fair market value.  Any other property is deemed non-related use property and the deduction would be limited to the lesser of fair market value or your tax basis in the property.
  • If the federal income tax charitable deduction claimed for a gift of tangible personal property exceeds $5,000, you must obtain an appraisal from a qualified appraiser and submit a special IRS form with the tax return on which the deduction is claimed.

There are several ways to make a gift of personal property to us:

  • An outright gift.  This allows you to benefit our work today and receive a federal income tax charitable deduction when you itemize.
  • A gift in your will or living trust.  You can leave a legacy at the Corvair Preservation Foundation by donating your treasures to us through your will or living trust.  A benefit of donating property through your will is that it gives you flexibility to change your mind at any time.
  • A bargain sale.  You can sell us your property for less than the fair market value of the item.  For example, if you sell us an antique for $25,000 that is worth $50,000, you will receive a federal income tax charitable deduction of $25,000 plus the payment from us of $25,000.
  • A memorial or tribute gift.  If you have a friend or family member whose life has been a long-time Corvair enthusiast, consider making a gift to us in his or her name.
  • A charitable gift annuity.  You can sometimes use non-income producing property such as a valuable stamp and coin collections or works of art in exchange for life payments and a federal income tax charitable deduction.  The amount of the charitable deduction depends, in part, on whether the donated items are retained by the charity and used for its tax-exempt purpose.
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Appreciated Securities

Securities and mutual funds that have increased in value and been held for more than one year are one of the most practical assets to use when making a gift to the Corvair Preservation Foundation.  Making a gift of securities or mutual funds to us offers you the chance to support our work while realizing important benefits for yourself.

When you donate appreciated securities or mutual funds you have held more than one year to us in support of our mission, you can reduce or even eliminate federal capital gains taxes on the transfer.  You may also be entitled to a federal income tax charitable deduction based on the fair market value of the securities at the time of the transfer.

Securities are most often used to support our work in the form of:

  • An outright gift. When you donate securities to the Corvair Preservation Foundation, you receive the same income tax savings that you would if you wrote us a check, but with the added benefit of eliminating capital gains taxes on the transfer, which can be as high as 20 percent. Making a gift of securities to support our mission is as easy as instructing your broker to transfer the shares or, if you have the physical securities, hand-delivering or mailing the certificates along with a stock power to us in separate envelopes.  (Using separate envelopes safeguards your gift—the certificates will not be negotiable without the stock power.)
  • A transfer on death (TOD) account.  By placing a TOD designation on your brokerage or investment account, that account will be paid over to one or more persons or charities after your lifetime.  It is not necessary for the TOD designation to transfer all of the account solely to charity—you can designate a certain percentage of the account.  With a TOD account, the beneficiary you name has no rights to the funds until after your lifetime.  Until that time, you are free to use the money in the brokerage account, to change the beneficiary or to close the account.
  • A gift in your will or living trust . If you aren't ready to give up these assets during your lifetime, a gift of securities through your will or living trust allows you the flexibility to change your mind at any time.  You can continue to receive dividends and participate in shareholder votes, and the securities are still yours if you need them for other expenses.  In as little as one sentence you can ensure that your support for the Corvair Preservation Foundation continues after your lifetime.
  • A donor advised fund.  When you contribute to a donor advised fund with appreciated securities, you may receive a federal income tax charitable deduction for the fair market value of the asset and eliminate capital gains tax.  Because of our nonprofit status, the Corvair Preservation Foundation does not pay capital gain tax when we sell the gifted securities.
  • A memorial gift.  If you have a friend or family member whose life has been touched by the Corvair Preservation Foundation, consider making a gift to us in his or her name.
  • A charitable gift annuity.  Funding a gift annuity with appreciated securities or mutual funds will not only provide you with reliable payments for life and allow you to support our work, but it can offer numerous financial benefits.  First, your annuity payments are often more than the dividends you would receive each year from the securities.  Second, you will receive a federal income tax charitable deduction (when you itemize) in the year the gift is made and eliminate part of the capital gains tax you would have paid if selling the securities.
  • A charitable remainder trust.  Highly appreciated securities are one of the best ways to fund a charitable remainder trust.  You may be reluctant to sell such assets directly because of the tax you would pay on the gain; however, if the assets were transferred to a charitable remainder trust, the assets can be sold without incurring the capital gains tax.  The trustee can then reinvest the proceeds in order to secure a higher current income yield.
  • A charitable lead trust.  Rapidly appreciating assets such as stocks are a great way to fund a charitable lead trust . The assets transferred to the lead trust are frozen in value for transfer-tax purposes at the time of funding.  At the end of the trust's term, all appreciation that takes place in the trust will pass tax-free to your heirs.
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Donating Cash

One of the easiest and most common ways for you to support the Corvair Preservation Foundation is with a gift of cash. Cash can be used to support our work in the form of:

  • An outright gift. By making a cash gift by check, credit card or money order today, you enable us to meet our most urgent needs and carry out our mission on a daily basis. You will have the opportunity to see your generosity in action and will also receive a federal income tax charitable deduction when you itemize.
  • Memorial and tribute gifts. If you have a friend or family member whose life has been a long-time Corvair enthusiast, consider making a gift to us in his or her name.
  • A payable on death (POD) account. A POD bank account or certificate of deposit names one or more persons or charities as the beneficiary of all funds once you, the account owner, pass away. The beneficiary you name has no rights to the funds until after your lifetime. Until that time, you remain in control and are free to use the money in the bank account, change the beneficiary or close the account.
  • A gift in your will or living trust. Through a gift in your will or living trust, you can support the Corvair Preservation Foundation with a specific amount of money or a percentage of your total estate. This type of gift allows you the flexibility to change your mind at any time.
  • A donor advised fund.  A donor advised fund, which is like a charitable savings account, gives you the flexibility to recommend how much and how often money is granted to the Corvair Preservation Foundation and other charities. You transfer cash or other assets to a tax-exempt sponsoring organization such as a public foundation.  You can then recommend—but not direct—how much and how often money is granted. In addition, you avoid the cost and complexities of managing a private foundation.  In return, you qualify for a federal income tax charitable deduction at the time you contribute to the account. This also allows for a centralized giving and record-keeping system in one location.

Are you ready to make a cash donation right now?  You can do it online very easily.  Please click HERE to visit our donations page.  Major credit cards accepted.

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Create Your Legacy with a Charitable Bequest

Interested in helping the Corvair Preservation Foundation in its mission to preserve and promote the history of the Corvair? A simple, flexible and versatile way to ensure we can continue our work for years to come is a gift in your will or living trust, known as a charitable bequest.

A charitable bequest is a written statement in a will that directs that a gift be made to charity upon the death of the person who made the will (the testator).

By including a bequest to the Corvair Preservation Foundation in your will or living trust, you are ensuring that we can continue to celebrate Corvair cars and trucks for years to come. Corvair – the most innovative production vehicles ever produced in America.

Next Steps

  1. Contact our Executive Secretary, Paul Bergstrom at (630) 403-5010 or This email address is being protected from spambots. You need JavaScript enabled to view it. for additional information on bequests or to chat more about the different options for including the Corvair Preservation Foundation in your will or estate plan.
  2. Seek the advice of your financial or legal advisor.
  3. If you include the Corvair Preservation Foundation in your plans, please use our legal name and Federal Tax ID.

Legal Name: Corvair Preservation Foundation
Business Address: PO Box 68, Maple Plain, MN 55359
Federal Tax ID Number: 36-3638163

There are other ways to provide financial support to the Corvair Preservation Foundation.  Please click on any of the "sliders" that appear when you click on "Supporting the CPF".

 

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Stock Is... Article Index

Beginning in January 1987, Larry Claypool (with the help of an occasional guest writer) published a wonderful series of Corvair restoration articles under the banner "Stock Is...".  The articles appeared in nearly every issue of the CORSA Communique magazine for six consecutive years and covered an amazing amount of territory. 

Here is a list of all the "Stock Is..." articles that were published in the CORSA Communique magazine.  If you are a CORSA member, you can look them up in our online Communique archives.  Larry believes it is complete. However, he notes that additional information has surfaced since they were written so many years ago. Some statements in the articles may not apply to all the years noted.

We thank "Corvair Kid" Kent Sullivan for taking the time and effort to prepare the list.  It also also appears on his personal website at http://www.corvairkid.com/stock-is.htm

Issue Category Topic(s)
Jan-87 side view tire sizes and styles
Feb-87 front end (trunk) paint, master cylinders, screw caps, insulation, emblems, decals, jack, spare, lug wrench, mats, rubber seals
Mar-87 front end headlight bezels, parking lamp lenses, headlamps, side marker lights, emblems, horns, valence panel, paint
Apr-87 side view wheel covers and hub caps, wire wheels
May-87 side view wheel well trim, rocker panel moldings
Jun-87 side view wheel covers revisited, emblems, belt trim, pinstripes, window trim, two-tone trim, door edge guards, gas door guards
Jul-87 national convention preparation operations check (judging)
Aug-87 side view outside rear view mirrors
Sep-87 national convention post-mortem various goofs concours competitors made
Oct-87 front end trunk paint and headlight buckets revisited
Oct-87 side view rocker panel moldings and tires revisited
Oct-87 rear end rear air grille, tailpipes, stone guards
Nov-87 rear end license plate lamp
Dec-87 rear end more on rear air grilles, tail light lenses and housings, backup light lenses and housings
Jan-88 engine compartment deck lid, latches, weatherstrips, seals, insulation and clips
Feb-88 engine compartment paint color, plugs, insulation, voltage regulators, wiring harness
Mar-88 engine compartment batteries, hold-downs, cables, vent caps, trays
Apr-88 engine compartment deck lid weatherstrips revisited, oil coolers, crankshaft pulleys
May-88 none none
Jun-88 engine compartment decals
Jul-88 engine compartment carburetors, belt guards, dipsticks and grommets, shroud bolts, generators, alternators, cooling fans, shroud paint, ignition parts, fan belts, A/C equipment
Aug-88 engine compartment ground straps, radio condensers, shroud bolts revisited, oil pressure switches, oil filler caps, fuel pumps, fuel lines, carburetor linkage; turbo specialties: heat shields, fuel lines, gas filters, etc.
Sep-88 none none
Oct-88 national convention post-mortem shroud bolts, decals, rear shelf cardboard, air cleaner elements, generator mounting
Nov-88 rear end exhaust, mufflers
Dec-88 engine compartment engine shroud bolts, damper doors, heater shrouds, oil pans, valve covers
Jan-89 engine compartment engine shrouds revisited, transaxles, backup light switches
Feb-89 underbody paint, bolts, hose clamps, suspensions, heater hoses, undercoating
Mar-89 interior dash pads, radio enclosures, ashtrays, instrument cluster plates, knobs, Powerglide shift knobs
Apr-89 side view van mirrors
Apr-89 interior instrument cluster plates revisited
Apr-89 underbody paint and undercoating revisited
May-89 interior instrument cluster screws, radios, clocks
Jun-89 interior radios continued (late model)
Jul-89 interior stereo multiplexes, tape players
Aug-89 engine compartment turbo specialties revisited
Sep-89 none none
Oct-89 interior doors, door panels, armrests
Nov-89 interior seat upholstery
Dec-89 interior seat belts
Jan-90 interior head rests
Feb-90 interior seat upholstery revisited, carpets, mats
Mar-90 interior seat belts revisited, inside rear view mirrors, visor vanity mirrors
Apr-90 interior package area cardboard
May-90 interior headliners
Jun-90 interior steering wheels, steering columns
Jul-90 interior headliners revisited, door sill plates
Aug-90 accessories luggage racks
Sep-90 none none
Oct-90 national convention post-mortem rear grille paint, decals, etc.
Nov-90 interior steering wheels revisited
Nov-90 accessories courtesy lamps, warning lamps, engine lamps, trunk lamps
Dec-90 accessories taxi packages, police packages
Jan-91 accessories tissue dispensers
Feb-91 accessories litter containers
Mar-91 accessories (early) locking gas caps, accelerator pedal covers, seat cushion covers, seat cushions, license plate frames, compasses, rear seat luggage compartment covers, rear door safety locks, coat hooks, glareshades
Apr-91 none none
May-91 accessories (early) ventshades, trailer hitches
May-91 accessories (late) locking gas caps, seat belt retractors, compasses, seat cushions, license plate frames, trailer hitches, emergency flashers, rear door safety locks
Jun-91 accessories (unattached) spotlights, toolkits, appearance kits, tool kits, fire extinguishers, highway emergency kits
Jul-91 accessories (FC) spotlights, other lights, Loadside platforms, arm rests, bed rails, clocks
Aug-91 accessories (FC) tables, screens, Greenbrier camper
Sep-91 none none
Oct-91 engine compartment oil filters
Nov-91 owners' surveys kickoff
Dec-91 none none
Jan-92 engine compartment oil filters revisited
Jan-92 front end head lamps
Feb-92 none none
Mar-92 none none
Apr-92 owners' surveys 1963 results
May-92 none none
Jun-92 none none
Jul-92 none none
Aug-92 accessories FOA, RPO, LPO, and COPO defined; Deluxe Equipment, Comfort and Convenience, and Custom Feature Accessories discussed; reference books discussed
Sep-92 none none
Oct-92 owners' surveys 1963 results revisited, 1969 results
Nov-92 none none
Dec-92 none none
Jan-93 owners' surveys 1966 results (also revisits decoding accessory information, which applies to 1963)
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Additional Production Numbers

The following production numbers were updated by Dave Newell and were published in the May 2017 issue of the CORSA Communique magazine. Refer to the article name "Production Numbers Revised" by Dave Newell.

Spyder: Option RPO 690   
Year                 Coupe    Convertible             Total
1962 4,320 2,574 6,894

Spyder: Option RPO L87   
Year                 Coupe    Convertible             Total
1963 11,627 7,472 19,099

Corsa Turbo: Option RPO L87 
Year Total
1965 7,206
1966 1,951

Air Conditioning  
Year        Option Number                      Total
1961 FOA 114 2,779
1962 FOA 114 7,238
1963 RPO C64 6,330
1964 RPO C64 6,010
1965 RPO C64 9,418
1966 RPO C64 4,780
1967 RPO C64 1,396
Total   37,951

Production Overview  (U.S.)
Model Year       Car   Truck (FC)  Total Corvair Production
    Assembly Plants Bloomfield CKD Plant Production Total   Assembly Plants Production Total    
1960   245,423 4,584 250,007         250,007
1961   279,075a 3,000 282,075   47,570 47,557b   329,632
1962   290,731 1,800 292,531   35,969 35,969   328,500
1963   254,115c 456 254,571   30,109 30,109d   284,680
1964   191,435 480 191,915   15,199 15,199   207,114
1965   235,528 e 235,528   1,528 1,528   237,056
1966   103,743 e 103,743         103,743
1967   27,157 96 27,253         27,253
1968   15,399   15,399         15,399
1969   6,000   6,000         6,000
Total   1,648,606 10,416 1,659,022   130,375 130,362f   1,789,384g

Notes provided by Dave Newell:

This Production Overview table shows the relationship of U.S. Corvair Production Number Totals to Assembly Plant Totals and the new FC Production Numbers.  Bloomfield, New Jersey CKD yearly totals are presented here for the first time from my files. Sum of the Car Assembly Plant Total and Bloomfield CKD Total equals the Car Production Number Total for each year.

a 1961 Car Assembly Plant Total: Was 279,103, corrected to 279,075 by Chevrolet production figure summary dated 4-7-71 giving revised totals for the Oakland Plant (55,470 revised to 55,464) and Willow Run (190,383 revised to 190,361). WR 190,361 total was also confirmed by the Willow Run-issued 1961 total. Kansas City total of 33,250 was unchanged. These changes reduce the 1961 Car Assembly Plant Total by 28 units to agree with the 1961 Car Production Figure Total.

b 1961 Truck Production Figure Total at 47,557 is 13 units lower than the Assembly Plant Total of 47,570. Without a Chevrolet document to balance these totals or prorate the 13 units over the four FC models, the more reliable 47,557 Truck Production Figure Total must remain for now.

c 1963 Car Assembly Plant Total: Was 254,112, corrected to 254,115 by Chevrolet production figure summary dated 4-7-71 giving revised totals for the Oakland Plant (22,403 revised to 22,406). Willow Run (214,470) and Los Angeles (17,239) totals were unchanged. This change increases the 1963 Car Assembly Plant Total by 3 units to agree with the 1963 Car Production Figure Total.

d 1963 Truck Production Figure Total: Was 26,968, corrected to 30,109 by the 1963 Chevrolet Accumulative Production Report which gave all new model production figures for 1963 FCs. This change increases the 1963 Truck Production Figure Total by 3,141 units to agree with the 1963 Truck Assembly Plant Total.

e 1965 and 1966 Corvair CKD units were made by GM Canada and are included in their 1965 and 1966 Canadian production totals. Canadian Corvair production is not included in any of the figures reported here.

f Corvair Truck Production Total: Was 127,221, corrected to 130,362 by 3,141 increase in 1963 Truck Production Figure Total. See note d.

g US Corvair Car and Truck Production Total: Was 1,786,243, corrected to 1,789,384 by 3,141 increase in 1963 Truck Production Figure Total. See note d.

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You Shop at Amazon. Amazon Gives to CPF!

by Rod Murray, Western Pennsylvania Corvair Club

Hello Chapter Members & fellow Corvair Enthusiasts,

I want to pass along some important information for anyone who uses Amazon for their online shopping. Did you know that Amazon offers a charitable program that donates money from every sale back to designated 501c3 charity groups? It's true, it's easy to use, and it's no cost to you! It's called Amazon Smile, and it works just like Amazon, but uses a different access link and only requires users to designate their select charity.

The link is https://smile.amazon.com/ if you want to take a look and/or pre-load your designated charity...may I suggest Corvair's own 501c3 non-profit arm, the CORVAIR PRESERVATION FOUNDATION?!

To be fair, Amazon Smile's donation of .5% for every sale may seem small, but every penny adds up, and the greater the level of participation, the greater the value to the CPF!

So far, this opportunity to help raise a few much-needed dollars for the CPF has been only lightly-promoted but I don't expect that to last. I encourage chapter officers, webmasters, and newsletter editors to actively promote Amazon Smile within your respective groups. And be sure to share with your family and friends. Again, every penny adds up, and this is an opportunity to do some good for the Corvair Preservation Foundation.

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