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Robert L. Goldsmith, Sovereign Grand Inspector General of the Ancient and
Accepted Scottish Rite
in Florida, Grand Prior
of the Supreme
Council for the Southern Jurisdiction of the U.S.A. and President of the
Scottish Rite Foundation of Florida, recently announced the formation of
the Legacy Club and encourages all of the Scottish Rite Valleys of Florida
to promote the club. The purpose of the club is to emphasize the ability
of Scottish Rite Masons to make charitable contributions to the Scottish
Rite Foundation of Florida through planned gifts. Any person who makes a
planned gift will be recognized as a contributor to the Legacy Club.
A planned gift is one which is legally provided for during the donor’s
lifetime, but whose principal benefits may not accrue to the Foundation
until a future time, generally at the death of the donor and/or income
beneficiary.
Planned charitable contributions are an ideal way to leave a legacy to the
children benefiting from the speech and hearing clinics sponsored by the
Scottish Rite Masons of Florida. Have you wondered how you can make a
profound difference in someone’s life? A gift to the Scottish Rite
Foundation of Florida will not only create a legacy for the children, but
hopefully add rich rewards to you and your family during your lifetime,
and help create your legacy as well.
Bequests – through a will or revocable living trust, a percentage of your
estate, certain items, or a dollar amount may be left to the Foundation
for the support of the clinics in Florida.
Charitable Gift Annuity- Another type of planned gift is the charitable
gift annuity. The donor transfers cash or securities to the Foundation,
and the donor receives fixed quarterly payments for the rest of his or her
lifetime, and an additional lifetime beneficiary may be added. A
charitable gift annuity can be started for a minimum contribution of
$5,000.
Pooled Income Fund – Gifts may be made to a pooled income fund, and
invested with an income stream paid to the donor or other beneficiaries.
After the death of the income beneficiaries, the remaining principal is
paid to the charity. As with the charitable gift annuity, the minimum
contribution is $5,000.
Charitable Trusts – Two types of charitable trust may be used to
potentially reduce taxes in an estate, to benefit the Foundation, and to
benefit family members.
Charitable Remainder Trust: A donor may contribute appreciated assets
such as stock, real estate or a business to a charitable remainder trust
and avoid capital gains tax, receive a stream of income for a period of
years or a lifetime of the donor and spouse, and avoid probate and federal
estate taxes on the contributed assets.
Charitable Lead Trust: A lead trust is similar in some ways to a
remainder trust, except the Foundation “leads off” as the income
beneficiary. The Foundation may receive income for a stated period of
years, and the family or other designated beneficiaries will receive the
remaining principal.
Life Insurance Gifts – The Foundation may also receive gifts of life
insurance policies. For policies already in existence, the beneficiary
may be changed to the Foundation and the benefits of the policy will pass
tax free.
Gifts of Appreciated Securities – gifts of appreciated stocks and mutual
funds are a simple way to make a lasting gift to the Foundation. The gift
qualifies for a tax deduction based on the full market value of the stock,
and the capital gains tax is avoided for the gain in the stock.
Gifts of Real Estate – A personal residence, farm, vacation home or other
real estate may be donated to the Foundation. Making an outright gift of
appreciated property held for more than a year would result in an
immediate income tax charitable deduction for up to 30% of adjusted gross
income and excess deductions may be carried over for five years.
Donor Advised Fund – In recent years, donor advised funds have become one
of the most popular charitable giving vehicles. Donors make contributions
to a fund maintained by a community foundation or financial company.
Cash Gifts – A highly efficient and effective gift for the donor and
Foundation is the cash gift. The donor receives a charitable deduction
and the Foundation is able to put the money to immediate use.
Contributors of $100 are named to the Millionaire Club, contributors of
$1,000 are named to the Billionaire Club, and those contributing $10,000
and over are in the Trillionaire Club. Contributions of $10,000 or above
will also be named to the newly created Legacy Club.
For more information concerning any of these charitable giving
strategies, contact The Scottish Rite Foundation of Florida, U.S.A.. Inc.,
P.O. Box 5736, Winter Park, Florida 32793-5736 or call 1-407-657-4550. The information provided is not intended to
be legal or tax advice. Contact your attorney or other tax advisor prior
to making any decisions regarding a planned gift to the Foundation.
A COPY OF THE OFFICIAL REGISTRATION AND FINANCIAL INFORMATION MAY BE
OBTAINED FROM THE DIVISION OF CONSUMER SERVICES BY CALLING TOLL FREE
WITHIN THE STATE. REGISTRATION DOES NOT IMPLY ENDORSEMENT, APPROVAL OR
RECOMMENDATION BY THE STATE. TOLL FREE IN FLORIDA: 1-800-435-7352 |
