Share
Preview

FEBRUARY 18, 2021   |   VIEW AS WEBPAGE
 
 
Presenting Sponsor
Foster Group
Charitable giving and volunteerism work in perfect harmony for Linda and Tom Koehn, both advocates for the Des Moines Symphony. They also give to a variety of other local organizations.
Linda and Tom Koehn: Striking the Right Chord

BY STEVE DINNEN

Philanthropic giving falls into a handful of categories – religion, education, human services and the arts. Some benefactors specialize, while others, such as Tom and Linda Koehn of Des Moines, spread their money across all these areas.  

Over the decades, the Koehns have generously supported a variety of nonprofit organizations -- such as United Way of Central Iowa, the Des Moines Area Religious Council and the Des Moines Pastoral Counseling Center -- that are all pitching in to meet the needs of the community. That’s especially been the case during the pandemic.

“We realize there is more to the community than the arts, especially with the pandemic,” Tom said in a recent interview for dsm magazine (read the full story in the current issue here). “There are huge mental health challenges.”

The arts that he spoke of are where their hearts lie -- with music, in particular, and the Des Moines Symphony. The Koehns have spent multiple decades supporting the Symphony with the three T's -- their time, treasure and talent.  

The foundation for it was laid years earlier, said Linda Koehn in the dsm story. For many years the Des Moines Public Schools sent students to select Symphony performances. Linda had a fourth grade teacher who wanted her pupils to arrive at the performance hall with schooling about the day’s program.  

“Our teacher coached us well,” Linda recalled. “The pieces usually had stories to accompany them, and we knew the stories and the music.”

Years later, as married adults, Tom volunteered at the Symphony as a board member and treasurer. Linda became a member and later chair of the Symphony’s Women’s Guild.  

A major fundraiser began in 2012. The initial goal was $4.5 million but it eventually topped $10 million. That success, said Symphony Music Director Joseph Giunta, “would not have happened without Linda and Tom’s help.”

And a key component of that drive turned out to be establishment of the Linda and Tom Koehn Endowed Chair of the music director—Giunta’s job.  

In 2018 the Symphony sought backing for a series of summertime concerts at the new amphitheater at Water Works Park. The Koehns donated to the Water Works Foundation, which built the amphitheater, and they also committed to fund the first five years of concerts there. Giunta said he believes that series – which paused last summer due to the pandemic eventually will be as popular a draw as the long-running Yankee Doodle Pops concert that celebrates the Fourth of July.

“If you want to be in a community, you really should support it,” Linda said. Sometimes with a musical ear.

dsm Magazine dsm Magazine
Legacy Bridge
Student Loan Situation: A Hot Mess

BY STEVE DINNEN


Today, some 70% of students take out loans to pay for their higher education. The outstanding debt load for 45 million students stood at $1.7 trillion last year, growing at a rate six times faster than the nation’s economy. The average debt is $37,691 per student. The University of Iowa estimates 2021-22 tuition, room and board at $21,610 per year for an in-state student.

There have been efforts to address the situation. The CARES Act of 2020 suspended student payments on some loans and provided tax benefits for employees whose employers can help with loan payments.  

Now there are calls by some congressional Democrats for President Joe Biden to cancel as much as $50,000 of loan debt for every borrower. Biden has rejected that idea.

Opponents ask where the government might get the money to pay for this. And students who paid their way through school without taking on debt might ask why they went to the effort.

Student debt is a suppressant to wealth accumulation by new graduates. Money spent on a loan leaves less to acquire a home or a car, or to invest in a mutual fund or otherwise join the adult, career world.   

Canceling debt for all may not be a great move. But somehow, someone needs to get a handle on this mess.


dsm Magazine dsm Magazine
ADVERTISEMENT
Value the opportunity to build personal relationships during projects by asking more questions and understanding intentions.
... Read more »
McLaren Introduces New $225,000 Hybrid Car

BY PETER VALDES-DAPENA FOR CNN


McLaren unveiled the Artura on Tuesday, a new hybrid supercar that is, relatively speaking, much more affordable than the British company's previous hybrid models.

McLaren's other hybrid cars have been limited production hypercars, like the $2 million Speedtail and the $1 million P1. With a price tag of $225,000 in the U.S., the Artura is the first of McLaren's relatively mainstream supercars to have hybrid power.

Up until now, McLaren's more accessible models, like the 720S and relatively entry-level 570GT, have been powered by turbocharged V8 engines. The Artura has a 577-horsepower turbocharged V6 instead, with an electric motor providing the rest of the car's 671 total horsepower.

The Artura, which will go into production in the fall, is a plug-in hybrid. It can operate like other hybrid cars, storing up energy from the engine and from braking, but it can also be plugged in to charge. With fully charged batteries, the Artura can travel up to about 19 miles on electricity alone before the car's gasoline engine needs to turn on. With power from both the gasoline engine and electric motor it can accelerate from a stop to 60 mph in three seconds, according to McLaren. Read more.


Extending Your Portfolio Beyond Your Comfort Zone

BY MALLIKA MITRA FOR MONEY.COM

Sticking solely with what you know isn’t always the best idea when it comes to the stock market.

The S&P 500 is filled with companies you probably interact with daily, from big tech like Apple to food and retail companies like McDonald’s and Estee Lauder. The index couldn’t be stopped in 2020, ending with a 16.3% gain for the year. While it might be tempting to fill your portfolio with these names you recognize, it can also be dangerous to exclude everything else.

Ignoring smaller companies or those in foreign countries limits your potential gains. It also puts all your eggs in one basket, something financial advisers are constantly warning us not to do.

If you want to invest in the companies that you know and maybe even love, that’s fine. Just make sure you’re not overdoing it. Read more.
dsmWealth's Suggested Reading


dsm
Wealth is published on the first and third Thursday of each month and updated on dsmMagazine.com.

What would you like to see here? Contact us at
dsmwealtheditor@bpcdm.com.

You can
sign up here to get dsmWealth delivered to your inbox.
 


 
Business Publications Corporation Inc.

Advertising info: rachellekjellberg@bpcdm.com
Business Record membership info: jasonswanson@bpcdm.com


Copyright © BPC 2020, All rights reserved.
Reproduction or use without permission of editorial or graphic content in any manner is strictly prohibited.

Email Marketing by ActiveCampaign