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The Florida Grantor, Fall 2005

Endowment News

Current vs. Planned Gifts

Each year it is the generous spirit of friends that makes our work possible. This generosity is evident in countless ways, including gifts of financial support. And while giving may seem a straightforward discussion, there are many ways that friends choose to make a gift. Some careful planning will ensure that your objectives are met. There are basically two categories of gifting; those that are Current and those that are Planned.

An example of a Current gift is writing a check. This type of cash gift provides immediate liquidity for The Able Trust and generates a charitable income tax deduction for the donor in the year of the gift.

Giving stocks or bonds may provide greater tax benefits. If you have owned securities for more than one year and the fair market value has increased since you purchased them, you can avoid capital gains tax and receive a charitable income tax deduction equal to the fair market value. Like all gifts, The Able Trust will guide you through the procedures of making any gifts.

Planned gifts, sometimes call deferred gifts, refers to specific strategies that benefit The Able Trust at some point in the future while offering immediate benefits to the donor. The gift of a paid-up life insurance policy is good example. By designating The Able Trust as the owner and beneficiary of such a policy, you will receive a charitable income tax deduction that, in most cases, is equal to your cost basis in the policy.

This just touches some of the strategies available. If you would like more information, please contact Mike Campbell at The Able Trust Endowment Department toll free at 1-888-838-ABLE (2253).

The Able Trust Mojitos at Midnight Gala at Mar-a-Lago Rescheduled

The eighth annual Able Trust Gala at the Mar-a-Lago Club in Palm Beach has been rescheduled for March 25, 2006. The Able Trust is now selling tickets for this black-tie affair, which includes an elegant cocktail reception at 6 p.m. followed by a five course decadent dinner at 8 p.m. The “Mojitos at Midnight” Gala was postponed due to the aftermath of Hurricane Wilma.

Guests will spend a luxurious evening at the historic Mar-a-Lago Club as the opulent surroundings are transformed into an old world Havana setting. The evening will also entail alluring entertainment, casino fun and a live and silent auction featuring many exclusive items. All of the proceeds from the gala benefit The Able Trust Endowment, which provides long-term funding for the employment of people with disabilities.

In memory of its founding director and past chair of The Able Trust, the “Dr. George L. Spelios Leadership Award” will be given out to a deserving Florida 501 (c)(3) disability organization executive for his or her outstanding leadership and advocacy for Floridians with disabilities at the local and state levels.

For nomination information for the “Dr. George L. Spelios Leadership Award,” refer to page 5 in this edition of the “Florida Grantor.” For ticket prices and more information about the “Mojitos at Midnight” Gala, visit www.abletrust.org/events/gala.shtml or call 888.838.2253.