Annuities, Legacy Giving, Donations
On 3 October 2003, the MFST became a member of the Community Foundation of Tampa Bay. Through the auspices of this organization, the MFST is now in a position to offer charitable gift annuities to those who might be interested. A charitable gift annuity is a combination of a gift and an investment. The basic concept works like this: In exchange for a gift of $25,000 or more (either in the form of cash or readily marketable securities), you can receive a fixed sum on a regular basis from the Community Foundation throughout your lifetime. Annuities provide income for yourself and your spouse for life while leaving the remainder to the Community Foundation with the annual income going to the MFST when no longer needed. In today’s market, such an annuity will most likely increase your return for each dollar invested.
The benefits you may receive from a gift annually are substantial:
Guaranteed life income – a portion of which is tax-free
Charitable contribution deduction
Capital gains tax savings
Estate tax savings
Establishment of a charitable legacy
The annuity payout is based on the age(s) of the annuitants with older donors receiving a higher payout than younger donors. Part of your income will be tax-free. The tables for a single individual as of January 1, 2017 are:
You can also claim a charitable deduction in the year of the gift for the portion of the gift’s value that exceeds the value of the annuity you receive.
For more information on this planned giving strategy, please contact:
George Hardy, VP and CFO, Community Foundation of Tampa Bay, 813-282-1975, ext. 102 or
Nancy J Alguire, President MFST at 813-634-4675.
Individuals making a bequest to the corporation become members of “The Victor’s Circle”. It is meant to provide a way in which we can honor those who have served, or are serving, in the military or federal service. Funds raised through membership in the “Victor’s Circle” will continue to be used to help needy senior non-commissioned officers, officers and their families into the future. Types of gifts may include intangible and tangible assets. Tangible property gifts will need to be approved with MFST to insure such a gift can be accepted and treated in accordance with your wishes.
Note: Anyone wishing to participate in the “Victor’s Circle” are advised to check with an attorney or accountant who specializes in planned giving.
Donations to the MFST may be to a general fund or a specific organization supported by the MFST. Gifts may also be designated in honor of a living person or current event, such as anniversaries, birthdays. They may also be made in loving memory of a deceased individual. Any remembrance also permits multi-year giving if the donor(s) so desire(s).
Individuals who donate to the MFST will receive an appreciation letter and a tax-exempt contribution receipt. Names of donors are maintained in a record of annual gift categories:
Annual Gift Categories
Sustainer’s Club $99 or less
Friend’s Club $100 - $249
Founder’s Club $250 - $499
Challenger’s Club $500 - $999
Underwriter’s Club $1,000 - $2,499
Patron’s Club $2,500 - $4,999
President’s Club $5,000 - $9,999
Chairman’s Club $10,000 - $24,999
Gold Club $25,000 - $49,999
Platinum Club $50,000 - $99,999
Benefactor’s Club $100,000 +
Once an individual, organization, or corporation reaches the Underwriter’s Club and greater they are invited to an annual recognition luncheon at Freedom Plaza, Sun City Center, FL in March. Upon entering the Patron’s Circle, the individual(s) or corporation name, is added to the large brass plaque Donor Wall maintained in the Freedom Plaza auditorium. Donors providing legacy gifts are represented with silver name plates instead of brass.