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IRA Rollover Extended

President Bush has signed the $700 billion economic bailout bill (H.R. 1424, The Financial Rescue Package), which includes a two-year extension of the IRA Rollover provision.

The provision will be made retroactive to Jan. 1, 2008, and will apply to gifts made from that date through Dec. 31, 2009. The provision exempts from taxable income any funds transferred (“rolled over”) from an Individual Retirement Account (IRA) to the Tailhook Educational Foundation.

The following limitations apply:

• The donor must be age 70½ or older.
• The cap on annual IRA (Traditional or Roth) rollovers is $100,000.
• The contribution must be a direct gift to a charity (no planned gifts).

The provision had expired at the end of 2007

Endow your passion.

A Designated Endowment is a gift that provides a permanent source of support to a nonprofit organization, in our case The Tailhook Educational Foundation, selected by you the donor. You may endow The Tailhook Educational Foundation through a designated endowment directly or through the San Diego Foundation. Including the following:

• Will or Living Trust
• Qualified Retirement Plan Beneficiary
• Charitable Gift Annuity
• Pooled Income Fund
• Charitable Remainder Trust
• Charitable Lead Trust

For more information about endowment funds, please contact Adrienne Vargas, Vice President, Charitable Giving, at (619) 235-2300 or email info@endowsandiego.org or Marc Ostertag, Tailhook Educational Foundation, 1-800-322-HOOK tag@tailhook.net

THE TOP THREE QUESTIONS AND ANSWERS OF CLIENTS AT “THE SAN DIEGO FOUNDATION”

How can I incorporate charitable giving into my estate plan?

When you meet with your estate planning attorney, make sure to ask this question. One idea is to name your fund at the San Diego Foundation or individual charity (like TEF) as the beneficiary of your retirement accounts, since the assets would then be distributed income tax-free. If these same assets were distributed to individuals, they would be subject to income tax.

May I receive income and donate to my favorite charity at the same time?

Many options enable you to make a gift now and receive income for life. Some options, including a Charitable Gift Annuity, provide guaranteed income for life and may pay out as high as 10.3%. The remainder is then distributed to your fund at the San Diego Foundation or to the Tailhook Educational Foundation following your passing.

What is the difference between a private foundation and a fund at the San Diego Foundation?

It has been easier for donors to establish a fund at the San Diego Foundation than to set up a Private foundation. Also, information regarding a private foundation is in the public domain, whereas information on a fund established at The San Diego Foundation may be private, if you choose. Private foundations also require more administrative work and include less favorable tax implications.

Dear Tailhookers, These are our kids and grand kids! Join us in helping them.

The Tailhook Educational Foundation needs your commitment and your command support, more than ever, it’s a patriotic choice.

The Tailhook Educational Foundation Endowment has surpassed $1,600,000 dollars and continues its strong upward trend. Those of you who have read the summer Hook Magazine saw the write up and biographies of all 66 scholarship winners, 2 of which were supported by CFC donations in the amount of $10,000 dollars, for a total of $156,000 this year. We continue to work hard at getting the word out to the active duty force about the power of making our Foundation the recipient of their Combined Federal Campaign donations. We need your support again this year. When the opportunity presents itself, as you start up your campaign and put your team together, please remind them that the Foundation CFC number is 10251. Contributions may also be made at our web site tailhook.net click on the Foundation Icon.

CFC is the world's largest and most successful annual workplace charity campaign, and is our corner stone for raising funds each year. Pledges made by Federal civilian, postal and military donors during the campaign season support eligible non-profit organizations such as The Tailhook Educational Foundation which provides educational benefits to the children and grandchildren of carrier aviation.

We realize that sometimes you and your shipmates have difficult choices about which organizations you choose to support. To be a part of the Tailhook Educational Foundation is to be part of something bigger than ourselves…it mean supporting those Americans that have walked in your path in defense of our way of life. If we all make a gift through CFC for the Tailhook Educational Foundation, then together we will be giving the children and grandchildren of our carrier aviation community the educational opportunity they deserve.

Thanks in advance for your continued command support for the Foundation through Combined Federal Campaign.

Ham Talent President (RADM Retired)

JON R. WINTHROP

THE TAILHOOK EDUCATIONAL FOUNDATION DONOR IN THE SPOTLIGHT 2009

Chairman of the Board and Chief Executive Officer, The Air Group, Inc.

Jon is no stranger to the Tailhook Educational Foundation. He has funded 5 annual scholarships for the past several years and was Honorary Tailhooker of the year in 2005. He has recently amended his family trust to fund all FIVE SCHOLARSHIPS in perpetuity through the Foundations planned giving program.

Mr. Winthrop has a Bachelor's degree in business finance and marketing from USC. He interned with IBM while earning his degree at USC and upon graduation, joined IBM as a marketing representative. During that time he managed a highly successful sales team with responsibility for all Federal, State and local government accounts in the Southern California sales region. Mr. Winthrop left IBM in 1978 to join Golden Jet Airways, an L.A.-based Learjet charter firm, as director of sales. Promoted in 1979, Mr. Winthrop was personally responsible for the development and management of the Purolator Air Courier nationwide air freight system, employing Golden Jet's fleet of Learjets as the primary source of air transportation for this system. Later that year, Mr. Winthrop moved to the Avjet Corporation as director of marketing, with responsibility for the Aircraft Management Division and all air charter programs. He left Avjet in 1980 to form The Air Group.