Re: Fwd: AERC Trails Fund

["Jerry Fruth" <hikryrdg@evansville.net>]

Lori and other trail preservationists,,,,,, Lilly Endowment, now the
largest endowment in the U>S. was set up by the law firm of Baker and
Daniels in Indianapolis.  The Endowment has been very active in supporting
amateur sports.  So much so that Indianapolis is now known as the amateur
sports capital of the U.S.  It would be my recommendation that Baker and
Daniels set up the trust and the trust have its offices in either
Washington D.C. Lexington KY, or Indianapolis, In.  If we are going to be a
player on the national scene the trust should be where the action is. I
would also suggest the finincal management of the trust be placed in the
hands of Terry Nance out of Tenn.  Lots to think about here to do it right.
Jerry Fruth...Hickory Ridge


On Fri, 31 Jul 1998, LABUP@aol.com wrote...
>In a message dated 98-07-30 23:14:22 EDT, hikryrdg@evansville.net writes:
>
><< At the convenbtion this year I suggested we
> establish a "Trust" whereby some of us that have a deep interest in trails
> and have the ability to leave portions or all of our estates to the "Trails
> Trust".  The concept is valid, and should over the years generate thousands
> and thousands of dollars to be used in our war of trail preservation. >>
>
>The national paralegal association I am involved in established a trust but
>came to find out that the way they set it up it was not considered a
>"charitable trust" by the IRS so folks who wanted to donate money could not do
>so and use it as a tax deduction.  If people can not deduct the donation from
>their taxes, they are a lot less likely to donate money.
>
>Sooooo, as you are thinking about this you might want to check into how to
>make this a charitable trust from the beginning.  This area was not my
>responsibility so I did not pay too much attention on what it takes (ooops,
>always pay attention) but maybe someone knows an attorney who can give some
>pro bono advices on this.
>
>Just something to think about.  :)
>
>Lori and Keno (the brat)
>