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The Florida Grantor, Spring 2005

Endowment News

Giving to The Able Trust: What does “wealthy” mean?

One of the biggest myths I have found, while discussing with individuals and groups the benefits of giving to The Able Trust, is that prospective donors must have a high net worth. This is far from the truth!

The people who give to an organization like The Able Trust typically have been or have a family member who has been affected by a disability. They know how technology, training and/or research can assist people with disabilities with becoming productive and independent citizens. They want to make a difference in someone’s life using what assets they have.

For example, one of The Able Trust’s prospective donors has a disability. He attends a support group regularly and feels it is a key component in helping people with disabilities become more productive and independent. Because he recognizes the impact support groups can make in the lives of people with disabilities, he would like to set up an endowment that focuses on support groups for a variety of disabilities.

This prospective donor does not have a high net worth, but he does own a piece of property that currently has high capital gains. One option he is discussing with The Able Trust is creating a gift annuity. He would gift the property to The Able Trust and once the property is sold, he will receive income for the rest of his life. Upon his passing, the remainder would be placed into a legacy account in his name to benefit support groups. The account will allow others to contribute to the same cause.

This situation is win-win. The donor will bypass capital gains on the property, receive an income for life and when he passes, leave a legacy to assist other citizens with disabilities in the future.

If you have an idea or feel very strongly regarding an area dealing with any type of disability and want to make a difference, please contact me at 888.838.2253 ext. 231 or mike@abletrust.org. The Able Trust will work hard to see if there is a way to make your vision come true, regardless of your wealth.

Welcome Aboard!

The Able Trust would like to welcome Joseph Caballero as one of our newest Ambassadors. Caballero is a director, as well as Chief Executive Officer and President of the Bank of St. Petersburg and St. Petersburg Holdings. Caballero is a member of the H. Lee Moffitt Cancer Center Foundation Board of Directors and the treasurer for the Tampa Chapter of Families of Spinal Muscular Atrophy. The Able Trust is pleased to welcome him aboard.

Alexis Garcia has been promoted to Endowment Assistant for The Able Trust. Garcia will be responsible for assisting the Vice President of Endowment Development in all aspects of the endowment department, such as donor correspondence and database management. She will also serve as The Able Trust’s liaison to its affiliate agencies. Alexis can be reached at alexis@abletrust.org.