Would you like to donate a portion of your interest to a charity of your choice?
If so, we will (with a few exceptions) match your contribution, up to 10% of your interest. Here is how it works:
First, if you wish to donate, complete the fields provided on the Subscription Agreement Form, including the % of your interest you wish to donate.
Second, provide us some information about your charity, which must be a 501(c)(3), also on the Subscription Agreement Form.
Third, before we accept your subscription, we will call the charity and set up payment information. If for some reason we cannot make payment to them, they are not a 501(c)(3), or we choose not to match your contribution, we will let you know before we accept your subscription, giving you the option to not subscribe.
Fourth, monthly when we calculate your interest we will deduct the percent of interest you selected and keep track of that amount separate from your information. After interest is calculated for all Note holders at the beginning of December of each year, all of the money for each charity will be totaled up and sent in one check to each charity. Each check will have the name and address of each contributor, and the amount each contributed. Our matching portion will be included in the total check.
Here are two examples:
|
Example 1 |
Example 2 |
|
| Investment Amount |
$100,000 |
$100,000 |
| Investment Date |
April 1, Year 1 |
April 1, Year 1 |
| Interest Rate |
4% |
4% |
| % Given to Charity |
10% |
25% |
| % of Match From Us |
10% |
10% |
| Average Monthly Interest to You (varies by month due to days) |
$300 |
$233 |
| Amount to Charity Dec Year 1 in Your Name |
$233 |
$583 |
| Amount to Charity Dec Year 1 in Our Name |
$233 |
$233 |
| Principal repaid |
April 1, Year 2 |
April 1, Year 2 |
| Amount to Charity Dec Year 2 in Your Name |
$167 |
$417 |
| Amount to Charity Dec Year 2 in Our Name |
$167 |
$167 |
| Total Interest Paid |
$4,000 |
$4,000 |
| Amount of That Interest to You |
$3,600 |
$3,000 |
| Amount of That Interest to Charity |
$400 |
$1,000 |
| Amount That We Gave to That Charity |
$400 |
$400 |
| Total to the Charity |
$800 |
$1,400 |
The charity must be an Internal Revenue Code Section 501(c)(3) qualifying organization. We reserve the right to either not match your contribution, or not make payments on your behalf to certain charities with missions contrary to our corporate philosophy. Upon your initial subscription, if you select one of these charities, and we notify you that we will not match your donation to such an organization or will not make a contribution on your behalf, you have the option of refund of your investment, donating without our matching contribution (assuming we are just not willing to match your donation to that charity), or investing and not donating to the organization.
Please note, for U.S. tax purposes, the portion of your interest that you choose to donate will still be considered taxable income to you, but the matching contribution from us will not.
The charity will be responsible for issuing you your charitable receipt. We will give them the information they need to do that.