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The Florida Grantor, Summer 2007

Endowment News

Charitable Remainder Trust

The Able Trust has a number of donors that prefer to create a Charitable Remainder Trust to gift to the organization. A Charitable Remainder Trust (CRT) is a trust that receives cash or property from a donor, makes payments for a life, lifetimes or term of years and then distributes the rest to The Able Trust.

Who should consider a CRT? A donor who wants to turn appreciated property that produces little or no income into a productive asset without paying capital gains tax on the sale of the property. The solution is having the donor contribute the appreciated property to a charitable remainder trust that will sell the property tax-free and then make payments for life or a term of years.

The benefits include: bypass of gain since the trust sells the property tax-free; increased income because the trust pays a percentage of its value to the trust beneficiary; and finally the donor receives a current federal income tax deduction.

To setup up a CRT, an attorney drafts the documents to create the CRT. Once the CRT is created, the donor transfers cash or appreciated property to the CRT. The CRT is a tax-exempt trust that can sell the appreciated property without paying capital gains tax. The duration of the trust can be for the lifetimes of one or more beneficiaries or for a specific term of years. If you would like to discuss the Charitable Remainder Trust in detail, please contact our endowment department at (888) 838-2253.

Tenth Annual Gala To Offer Adventures Oceans Away

The Able Trust is pleased to announce the 10th Annual Gala, Reflections of India. Planned for March 1, 2008 at The Mar-a-Lago Club, The Able Trust 10th Annual Gala will allow guests to explore the cultural richness of India while discovering the vivid colors, vibrant patterns and enchanting music associated with this beautiful destination. This journey for The Able Trust will be a black-tie event featuring a delectable dinner, one of kind live auction and high-energy entertainment.

This year's gala will mark a decade for this extraordinary event. Since 1998, The Able Trust has hosted this amazing event at The Mar-a -Lago Club in Palm Beach. Donations and contributions from this event have gone to support the youth programs of The Able Trust and more than 2,000 youth with disabilities across Florida.

In addition, The Able Trust is proud to welcome Dr. Sheila E. Buchbinder as the Gala Chair for The Able Trust 10th Annual Gala. Dr. Buchbinder currently serves as an ambassador for The Able Trust and is a board certified Obstetrician Gynecologist. Dr. Buchbinder has been a devoted advocate for disability awareness and empowerment.

She recently attended the 2007 Youth Leadership Forum where she presented the keynote address for the 2007 Mentors Luncheon to more than 175 community leaders, business professionals and youth with disabilities.

For this year's gala, Dr. Buchbinder is joined by a dedicated team of volunteers who will serve as members of the 2008 gala committee. With the help of this enthusiastic committee, the 10th Annual Gala is sure to offer guests another entertaining evening to benefit the programs of The Able Trust.

For more information about The Able Trust 10th Annual Gala, please contact The Able Trust at (888) 838-2253.

Deadline Fast Approaching for 2007 Ability Awards Nominations

The deadline to submit nominations for the 2007 Ability Awards is 5 p.m. on Friday, August 17. Nomination forms are available by calling toll-free 888-838-2253 or visiting The Able Trust website at www.abletrust.org.

The Able Trust Ability Awards honor individuals and organizations from across the state that have exhibited an extraordinary commitment to the employment of and advocacy for Florida citizens with disabilities.

These honors include: the Employer of the Year Award, The Able Trust Award for Outstanding Entrepreneur, the Dr. George L. Spelios Leadership Award, the Youth Leader Award, the Beverly Chapman Award for Outstanding Employment Placement Program and the Media Representative Award.

The Able Trust Awards Business Leaders Grant Funding

The Able Trust recently awarded the Big Bend Business Leadership Network (BBBLN), $65,000 in grant funding, during the fourth quarter of the fiscal year. On July 12, 2007, The Able Trust President and CEO, Sharon Griffith, presented the BBBLN with funding to aid in the expansion of its Paid Internship Program.

"The Able Trust looks forward to seeing this program develop and help people with disabilities gain meaningful employment," said Sharon Griffith, President and CEO of The Able Trust.

Founded in 2004, members of the organization share a tremendous commitment to educating employers to recruit and retain employees with disabilities to promote good business practices.

"Our Big Bend BLN members continue to tell us that 'attitudes at all corporate levels' are the leading impediment to their employment of people with disabilities," said Sarah Butters, president of the Big Bend BLN and an attorney for Holland and Knight LLP.

"The solution to this attitudinal barrier, according to the responding employers, is training and exposure to people with disabilities in their workplaces."

The BBBLN Paid Internship Program is a designed to provide 30 individuals with disabilities the chance to gain work experience through a 12-week internship to increase their job skills, as well as, their value to prospective employers.

To learn more about the Florida BLN, visit www.floridabln.org. To receive additional information about The Able Trust Grants Program, please visit www.abletrust.org.