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Families: Touring AccountsOpportunities are available for advanced singers to participate in tours to various locales both foreign and domestic. ICC maintains a separate "touring" account for each singer. If a child chooses to participate in ICC sponsored fundraising opportunities, a percentage of the profits from his/her individual sales are designated by the ICC Board of Directors to be held in escrow in the singer's personal touring account. The credits held in escrow are available to help pay for any future tour expenses which the singer might incur. They are not available to pay any other ICC fees, such as tuition, blazer, etc. The escrowed funds are owned by the ICC and are not eligible for cash withdrawal by the singer. Direct deposits made by a family toward a singer or chaperone's tour costs as well as charges for the tour are also accounted for in the singer's touring account. Statements showing activity in the touring account are provided once each year and more frequently if your child is chosen to participate in an ICC tour. You may also request a statement for your singer's touring account at any time, and parents are encouraged on occasion to review the account activity and accuracy of the information shown. Any balance remaining in the touring account at the time of graduation or withdrawal/removal from the ICC reverts to the ICC general touring fund. This fund is used to provide touring scholarships and pay general touring costs not covered by touring fees charged to participants. Upon request, any balance remaining in a graduating singer's touring fund can be transferred into an active sibling's touring fund. |
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