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rotary club of Sarasota keys foundation, Inc.
P. O. Box 365, Sarasota, FL 34230
Letter of Intent
I wish to support of the Rotary Club of Sarasota Keys Foundation’s community projects.
I have made provision or,
I will make provision to support and strengthen The Rotary Club of Sarasota Keys Foundation, Inc. through:
an outright gift of cash or negotiable property
a Bequest provision for an Endowment in my will
a Life Income Gift:
establishing a Charitable Remainder Annuity Trust
establishing a Charitable Remainder Unitrust
establishing a Charitable Gift Annuity
a Charitable Lead Trust
a gift of Life Insurance
a Bargain Sale or Donative Sale
a Gift of Partial Interest
Other __________________________
I want _____ percent of my gift to be designated to the Rotary Club of Sarasota Keys Foundation, Inc.
Currently, I estimate that the value of my outright gift, bequest, or other planned gift is $ ___________________________________.
(optional)
Yes, ________________ , please contact me promptly for a confidential consultation or call Foundation President, Jack Geldi at (941) 586-2777 for further information.
*See attached for descriptions. This letter of Intent is not a legal obligation.
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NAME ____________________________________________________________
(please print)
ADDRESS ____________________________________________________________
CITY _________________________ STATE ________ ZIP __________
_____________________________________ __________________________
Signature Date
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A BEQUEST OR ENDOWMENT PROVISION IN MY WILL
Bequests can be outright, contingent or partial to create an endowment with income going to The Rotary Club of Sarasota Keys Foundation for general use or to support a specific program or service. Bequests can be cash, stocks, bonds, real or personal property, or a percentage of your residuary estate. Bequests are for unrestricted or restricted purposes. Bequests can create Charitable Remainder Trusts (see the description of Life Income (Planned) Gifts). Bequests can also be make final distribution to The Rotary Club of Sarasota Keys Foundation and can occur when a donor’s heirs die or no longer need the economic support provided by the provisions in your Will.
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A LIFE INCOME GIFT (PLANNED GIFT)
A Life Income Gift is an irrevocable transfer of cash, appreciated securities or property or a combination of any of the above which provides the contributor with the right to receive an annual distribution to himself and his family during his life. This can provide estate tax, gift tax, income tax, and capital gains savings as well as increasing a donor’s income during his life. At a fixed time (usually the donor’s death), the transferred property goes to The Rotary Foundation for general purposes or for a specific program. Types of life income gifts are:
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Charitable Remainder Annuity Trust
This tax-deductible gift allows a donor to transfer property to a trustee subject to the donor’s right to receive a fixed percentage of the fair market value of the property for as long as he or she lives. Whatever remains in the trust at the donor’s death becomes the property of The Rotary Foundation.
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Charitable Remainder Unitrust
This gift operates in the same way as a Charitable Remainder Annuity Trust except that the income is a percentage of the fair market value which is determined annually.
The gift annuity is an agreement to pay a giver a guaranteed amount for life in return for the transfer of a gift to The Rotary Foundation. The guaranteed annual payment is backed by the assets of The Rotary Foundation.
The Charitable Lead Trust gives the donor (either an individual or a corporation) the opportunity to place income producing property in trust for a period of years. The income from the property goes to The Rotary Foundation through the life of the trust. At the end of the trust’s life (a specified time) the property then is returned to the donor or to his estate. Lead trusts may be established through a will and can produce significant death tax savings.
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A new or existing life insurance policy can be designed or changed to make The Rotary Foundation either the beneficiary and/or the owner. Depending on the arrangements made, the giver can be made eligible for a substantial current and recurring tax deduction.
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BARGAIN SALE OR DONATIVE SALE
Examples of this type of gifted appreciated property could be stock, a house or a farm, that is subject to capital gains tax. These types of sales of property to The Rotary Foundation are for amounts that are less than the determined fair market value. The excess of fair market value over the sale price represents a contribution to The Rotary Foundation. These types of sale provide an income tax deduction on the fair market value and the gift portion may help to avoid capital gains tax.
A gift of a personal residence or farm is made to The Rotary Foundation, yet the donor retains use of the property for life. These types of gifts provide the donor with significant current income tax deductions plus the satisfaction and recognition of having made a memorable contribution. Second homes or vacation homes qualify for this type of gift.
Types of property that can be donated:
Cash
Securities or other real property
Real estate
All or a portion of rental income
Life insurance
Royalties
Mortgaged property
Works of art
Collections
There are other types of gifts or gifts in-kind.
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Outright Gifts, Planned Gifts and Bequests to The Rotary Club of Sarasota Keys Foundation, Inc. can be discussed in confidence with the President of The Rotary Foundation Committee of the Sarasota Keys Rotary Club or any member of the committee. Please call or write for further information:
Rotary Club of Sarasota Keys Foundation, Inc.
c/o John J. Geldi, Jr., Foundation President
P. O. Box 365
Sarasota, FL 34230
Telephone (941) 586-2777
Fax (941) 966-9063
Email: jjgeldi@aol.com
Gifts to The Rotary Club of Sarasota Keys Foundation, Inc. may assist a donor to avoid
state or federal income, capital gains or estate tax to the fullest extent of the Law.
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