Planned Gifts
Support TEAM
Today, we need your help to secure that promise for the future.
Through your charitable planned gift to The Efrain Anthony Marrero Foundation, you will ensure that the fight against steroid and performance enhancing drugs will be taken to all sports at every level. Through education, training, and even legislation your gift will continue to fight to eradicate these dangerous challenges to our young people. Your legacy will teach generations that playing at your natural best is beneficial to the athlete, team, and sport.
Every gift of any size makes a difference and is valued. You can craft a legacy to meet your unique financial, tax and estate planning goals while securing TEAM’s mission. There are many options, but designating your planned gift to TEAM’s Endowment is one of the most powerful ways you can positively impact thousands of young lives.
To learn more about the long range plans of The Efrain Anthony Marrero Foundation or to discuss one of the giving options listed here, please contact the foundation.
Forever 52 Endowment
Use of steroids and performance enhancing drugs are not in the past tense. Seemingly every day there are new “designer drugs” or ways in which professional athletes work to hide their use from increasingly aggressive testing. Forever 52 is the endowment program of the foundation that will ensure we will be able to continue the fight as new generations of athletes face an increasing number of temptations.
Our commitment to endow the work of The Efrain Anthony Marrero Foundation will help shape the future.
Your tax-deductible gift to Forever 52 can ensure that its life-changing programs will continue to educate and motivate future generations; extending the foundation’s reach and impact.
As the principal amount of your endowed gift is invested, your legacy will grow into a permanent, self-sustaining source of income to support the foundation's vital work in communities across America and throughout the sports world.
You can fund your endowment through a gift during your lifetime or a gift through your estate plans. A bequest in your will to the foundation’s endowment — a gift that costs nothing today — is the easiest way to create an enduring legacy.
Ways to invest in Forever 52
- Student Member - a gift of $5.20 made by a student athlete is testament to his/her pledge to naturally develop their individual ability. Student members are identified by school.
- Fan - $52.00 - permits everyone who wants to join with others to help end the use of performance enhancing drugs through education and alternative training opportunities.
- Varsity Team - $520.00 - ensures that funding is available to fund the educational program for one student athlete each year.
- Team Captain - $5,200 – Continues both the educational program and assists our research and support efforts to remain current in terms, use, and legislation
- Coach - $52,000 – funds the education of one team at one school each year
- TEAM Sponsor - $520,000 – assures funding is available to provide education to one school each year.
What to Give
You can use a wide variety of assets to make a charitable planned gift. You may find one of the following types of assets ideal for accomplishing your financial and estate planning objectives.
CashYou can use a wide variety of assets to make a charitable planned gift. You may find one of the following types of assets ideal for accomplishing your financial and estate planning objectives.
Marketable SecuritiesGiving marketable securities that have appreciated in value is an especially prudent and economical way to support the foundation. Gifts of long-term appreciated stock or mutual funds offer a quick, easy and tax-efficient way to make a lasting contribution to the foundation. The benefits include:
- Income Tax Savings - You may be entitled to an income tax charitable deduction of up to 30 percent of your adjusted gross income. The excess can be carried forward for up to 5 years.
- Capital Gain Tax Savings - Avoid capital gain taxes you would have incurred if you had sold the securities.
- Receive Income - By funding a life-income gift such as a Charitable Gift Annuity with securities, you could receive income during your lifetime.
Closely-held securities are often highly appreciated, especially if the corporation has grown from an individually owned or family-owned company. The potential capital gains tax on the stock's appreciation may make a sale unattractive. By giving closely-held stock to the foundation, you could receive an income tax deduction for its full fair market value and avoid all capital gains tax.
Retirement Plan AssetsYour IRA 401(k) or other qualified retirement plan may be heavily taxed if left to anyone other than a spouse. By naming the foundation as a beneficiary of all or a portion of a retirement plan, you avoid both the estate tax and the income tax that would be due on these tax-deferred plans if distributed to your heirs. Retirement plan assets also may be ideal for funding a charitable remainder trust to provide income to a loved one after your lifetime.
InsuranceIf you have a life insurance policy you no longer need, you might want to consider transferring ownership to the foundation. You may also purchase a new policy, and then assign it to the foundation as the owner and beneficiary. A gift of an existing policy could generate an income tax charitable deduction, and annual contributions to the foundation in an amount equal to any insurance premiums will also enable you to claim income tax charitable deductions.
Real EstateThere are many ways to make a gift of real estate to the foundation. If you are considering a gift of real estate, please call the foundation at 707-447-1058. We would be glad to explore with you how such a gift might help you combine your charitable and financial objectives. The foundation board must approve and accept any gift of real estate before the transfer of any real property may be finalized.
FAQs - Frequently Asked Questions
Planned giving offers donors unique opportunities to leave more to their heirs, satisfy philanthropic goals, and retain or increase lifetime income from donated assets. It provides the ability for a donor to reduce or eliminate estate taxes, reduce income taxes, reduce or eliminate capital gains taxes, and save taxes on the sale of a family business. In addition, planned giving can offer creative opportunities for donations—such as by utilizing real estate, tangible personal property and closely-held stock. Planned giving also enables the donor to leave a lasting legacy and ensure that their support of the foundation will continue in perpetuity.
Question List- Who can make a Planned Gift?
- Why make a Planned Gift?
- How to make a Planned Gift?
- What is the most popular Planned Gift?
- What is an estate plan?
- What is a will?
- What are the benefits of planning a gift in a will?
- What is a deferred gift?
- What is an unrestricted gift?
- What is a restricted gift?
- Can I remain anonymous until my planned gift is realized?
- How can the foundation help me with planned gifts—life income gifts and bequests?
- Will I need a tax advisor to help me set up a planned gift?
- If I include the foundation in my will, whom do I need to tell about it?
- How can a planned gift help me accomplish more than an outright gift?
- What are the best assets to use for a planned gift?
- Does a planned gift have a minimum financial level?
- When making a bequest, do we have to specify a dollar amount in our wills?
- How does life insurance work as a planned gift?
- Are retirement policies a good planned gift?
- Should I be doing other work to arrange my personal affairs?
Who can make a Planned Gift?
Anyone can make a planned gift, regardless of age, occupation, or financial means.
Why make a Planned Gift?
When you and The Efrain Anthony Marrero work together to establish a planned gift, you leave a lasting legacy and enable the foundation to continue its critical work in perpetuity.
How to make a Planned Gift?
The foundation will be pleased to work with you and your advisors to best meet our mutual philanthropic goals. Please contact us at 707-447-1058 to arrange for a confidential conversation.
By far, the most popular planned gift is a charitable gift made through your will. It is simple to establish and because it is revocable the donor can make changes at any time.
What is an estate plan?
An estate plan is simply any plan for disposition of your estate assets with a second goal of minimizing expenses and taxes. The core of any estate plan is a will.
What is a will?
An important legal document, a will primarily provides a smooth distribution of your assets to named beneficiaries. It allows you to organize your affairs so your responsibilities are taken care of after your death.
- It helps to maximize available tax, financial and estate benefits
- It ensures that your personal and financial objectives are met
- Your property is distributed according to your wishes
- It enables you to increase your gift potential by looking at other ways of giving
- You can establish an endowed fund in your name or the name of a loved one
- It provides a lasting gift to The Efrain Anthony Marrero Foundation
What is a deferred gift?
A deferred gift is another term for a planned gift. They are donations that are arranged now but will benefit the foundation after your lifetime. Two common examples are bequests and life insurance.
What is an unrestricted gift?
Unrestricted gifts allow The Efrain Anthony Marrero Foundation to use your donation where it believes the need is greatest at the time the gift is realized. They provide the foundation with the flexibility and ability to respond to unexpected financial requirements.
What is a restricted gift?
Designated gifts, as opposed to unrestricted gifts, are donations where an intended purpose is identified by the donor and accepted by the foundation.
Yes.
How can the foundation help me with planned gifts—life income gifts and bequests?
The foundation has a variety of resources for estate and charitable planning. We would be happy to review with you options that might best suit your needs. We can:
Will I need a tax advisor to help me set up a planned gift?
The Efrain Anthony Marrero Foundation can provide detailed information, including draft language, for your attorney or other advisor regarding any planned gift you are considering. It is recommended, however, that you involve your personal tax or legal advisor at some point in the process.
You need not tell the foundation of your plans. However, we are always delighted when a donor notifies us.
How can a planned gift help me accomplish more than an outright gift?
You may have funds available in a retirement account, real property, or other assets you have accumulated over time. These assets may not be available for an outright gift. They could be designated through a planned gift, which gives you the opportunity to make a larger gift in the future. Planned gifts often achieve more estate and tax planning objectives then outright gifts.
What are the best assets to use for a planned gift?
Cash, appreciated securities, real property, insurance policies, retirement plans, and many other assets can be used to fund a gift to the foundation.
Does a planned gift have a minimum financial level?
No. Bequests in all amounts are welcome and valuable. Charitable gift annuities require a minimum $10,000 contribution. Charitable remainder trusts are most often established with at least $100,000.
When making a bequest, do we have to specify a dollar amount in our wills?
No. You have several choices: a specific dollar amount, a percent of your estate, or what is left in your estate after other bequests are fulfilled. Another possibility is to leave insurance or retirement proceeds, as mentioned below. This provides great flexibility.
Life insurance policies that are paid up can be given to the foundation. A new or existing policy can also list the foundation as beneficiary, and each year the donor gives the foundation the funds needed to pay the premium.
Are retirement policies a good planned gift?
Yes, they can be. Upon your death, retirement plan assets may not only be subject to an estate tax but also an income tax when transferred to non-spousal beneficiaries. In some cases they can be taxed at a combined marginal rate of as high as 65%. By using retirement plan assets to leave a planned gift, you can avoid estate and income taxes and ensure that 100% of the balance of your retirement funds will support the philanthropic objectives you care most deeply about. Also, recent legislation makes it possible for donors age 70 and ½ to use IRA assets to make outright transfers to charity.
We recommend that everyone, regardless of age, complete basic legal documents: a will or trust, medical directive, and durable power of attorney. These can easily be drafted by an attorney who works in the area of estate planning. Young families have the responsibility of providing care plans for their minor children should they be unable to do so themselves. Persons of all ages begin to acquire assets; without a will or trust, those assets will be distributed according to state law without consideration of the wishes of the deceased owner, and with no benefit of tax advantaged planning.
Types of Planned Gifts
Charitable Lead Trust
When people think of creating a way to pass inheritance to children and, with planning, grandchildren while making a generous gift to a charity, the charitable lead trust can be an excellent way of meeting both objectives. While among the most complex of all trusts, it provides excellent tax benefits.
In this case the donor establishes a trust either during his lifetime or at death. Income from the trust flows to a charitable organization, like The Efrain Anthony Marrero Foundation, for a selected number of years. At the end of this period of time, the trust funds are then distributed. Because of the structure of the charitable lead trust, when the funds are distributed no tax is due by the heirs.
How this might work: Patrick transfers $1 million to a charitable lead trust. He does not receive an income tax deduction at the time of the gift. As supporter of healthy youth participating to their fullest potential he has named The Efrain Anthony Marrero Foundation to receive income from this trust for 20 years. Assuming the fixed rate was the method to pay the interest, The Efrain Anthony Marrero Foundation will receive $50,000 per year or a total of $1 million over the life of the trust. At the end of this period the assets in the trust – which may or may not have grown in value – are then distributed to a child or grandchild as directed.
Let’s assume good investments were made during those twenty years and the principal amount has grown from the initial $1,000,000 to $3,200,000. This means the child or grandchild will receive $3,200,000 and no tax is due.
Retained Life Estate
For most people one of the most valued assets is their home. It can also become a generous gift to The Efrain Anthony Marrero Foundation, even while you are still living in it. You, your spouse, or another person can arrange to live there for the rest of their lives when you make a gift of retained life estate.
Deeding your home in this fashion allows the donor to obtain a significant income tax deduction for the year of the donation. The exact amount of the deduction is determined by the age of the donor, and ages of any others given life use of the home. You will continue to live in the home and have responsibility for maintenance, insurance, and property taxes.
Any personal residence can qualify as a retained life estate gift including a farm, vacation home, or condo.
Using this example: Martha, age 68, deeds her home to The Efrain Anthony Marrero Foundation, and she plans to live there the rest of her life. The current market value of the home is $300,000 (home and land). Using the required IRS tables to discount the gift based on Martha’s life expectancy and future depreciation of the house, it is determined her income tax deduction will be in excess of $58,000.
Other Gifts
There are a number of other ways to make significant gifts to The Efrain Anthony Marrero Foundation and receive significant tax benefits.
You can donate a life insurance policy to the society or name us the beneficiary. In the case of a paid-up policy, you will receive an income tax deduction equal to the lesser of the cash value or the policy or the total premiums paid.
If you own property that is fully paid off and has appreciated in value, an outright gift to The Efrain Anthony Marrero Foundation may be the simplest solution. You can deduct the fair market value of the gift, avoid all capital gains taxes and remove the asset from your taxable estate.
Gifts of securities can be another way to make a significant difference. The best stocks to donate are those that have increased in value, but are producing a low yield to you. A stock you purchased at $4 per share in the late 1940s that is trading today for $53 per share, but doesn’t issue dividends is an example of one such type of stock to give.
Contact UsTo learn more about the long range plans of The Efrain Anthony Marrero Foundation or to discuss one of the giving options listed here, please contact the foundation.
Other Opportunities for Giving:
The Efrain Anthony Marrero Foundation:
Is a non-profit corporation that was formed in 2005 in memory of Efrain Anthony Marrero. Efrain took his own life on September 26, 2004, three weeks after he stopped using steroids.
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