First and foremost, this article is not tax advice. No-one associated with the Super Sabre Society will provide tax advice to you. We urge you to consider all options with your tax professional before you make any decisions regarding the SSS endowment.
When Don Shepherd fired his parting shot, he encouraged us to take the long view and to consider the true legacy of the F-100 for years into the future. One of his proposals was to establish an endowment fund, which would permit individuals to make donations to enable our heritage and our legacy to be preserved long after we “depart the fix.”
We have now established an Endowment Fund for that very purpose. The endowment enables the Society to preserve the heritage of the F-100 and that of all of us by preserving and financing the website and the other permanent efforts of the Society to preserve the memory of the F-100 and those who flew it.
The endowment creates a fund which will last over the years and permit the Society to use the interest and a small portion of the principal to maintain and preserve and update the website for the foreseeable future, and to preserve our library of The Intake and other initiatives undertaken by the Society. You can make donations today and in your lifetime, or testamentary donations (Will, Trust, etc.) after your death.
We are an IRS 501(c)(19) Veterans’ Organization, and some donations to the endowment may be tax-deductible, either from your personal returns or from your estate returns after you pass. Again, we do not provide tax advice but encourage you to seek competent tax advice before making any decisions about the endowment.
The endowment is an outstanding vehicle for end-of-life gifts. If you designate the Endowment Fund in your Will or your Trust OR your insurance policy, your gift to the Society will remain in the Endowment Fund and will help to preserve, perhaps forever, the heritage and the memory of the F-100 and the men who flew it.
We encourage you to open and read the Endowment Policy Statement from the website and consider it. If you wish to receive a mailed copy of the Endowment Policy Statement, we’ll be happy to provide that. Please contact any member of the board to request your copy.
Peter Collins, Jr