January 5, 2024

Mike Endowment Benefits From $1.25 Million Charitable Annuity

1.6 min read| Published On: January 5th, 2024|

By Kyle Coppola

Mike Endowment Benefits From $1.25 Million Charitable Annuity

1.6 min read| Published On: January 5th, 2024|

Mt Dora, Florida – The Mount Dora Community Trust (MDCT), the custodian of the MIKE Endowment (Mental Health and Kindness Endowment) received one of its largest financial commitments ever, earmarked to help ensure the financial future and impact of the MIKE Endowment.

Joe Ziler, founder of the MIKE Endowment, pledged $1.25 million to be distributed in 25 annual disbursements into the fund over the next 25 years as part of a Charitable Lead Annuity Trust. Also known as an “iCLAT,” this type of trust provides unique tax advantages, often used to help offset the financial windfall of large sums such as the sale of a business, inheritance, or lottery winnings.

“This is a rarely used but valuable way for Joe to leave a significant legacy. It is also the first of its kind with the Mount Dora Community Trust,” said Rob English, MDCT’s Executive Director.  “Joe was innovative in how he chose to honor his brother Mike, who took his own life in 2013, when he created the MIKE Endowment to help others struggling with mental health conditions.  It really is little surprise that he was also the first to recognize the value and importance of the iCLAT to perpetuate his commitment to the endowment and the community.”

Since its inception, the MIKE Endowment has disbursed more than $200,000 including nearly half of that specifically in support of more than 900 Lake County, Florida residents to assist with the initial cost of mental health counseling sessions. In addition, the endowment has supported numerous like-minded organizations including Lake County Sheriff’s Office, Lake County Schools, Worth It, Forward Paths, Boys & Girls Club of Central Florida, and Purple Heart Homes.

“The impact of mental health is only getting worse in our society, particularly among our youth. I don’t see my efforts to honor my brother and fulfill the goals of the MIKE Endowment getting any easier which is why I wanted to make sure the endowment would be around for decades,” stated Joe Ziler.  “The peace-of-mind in knowing the MIKE Endowment will be funded without interruption as we grow our commitment and support is something I know my brother would be proud of.” Having recently sold his multi award winning custom home building company, Kevco Builders, Ziler explains, “If you have the ability to make a difference, you have a responsibility to make a difference.”

To learn more, or to support the MIKE Endowment’s efforts to raise awareness and assist those with mental health conditions, please visit TheMikeEndowment.org

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About the Author: Kyle Coppola

Kyle Coppola was born in Newton, Massachusetts and received his Bachelor of Fine Arts in Communications from Curry College in 2016. After traveling to Florida on a family vacation, he decided he could not get enough of the warm weather and made the move from snowy Massachusetts to central Florida 8 years ago.

For the last decade Kyle has gained valuable experience in social media content creation, marketing and sales, writing, video production, sports announcing and even broadcasting for local radio stations, such as FM 102.9 in The Villages and FM 91.5 in Massachusetts. Every year he volunteers at The Villages Charter High School as a play-by-play sports announcer for the football games as well as a public address announcer for the basketball games, including the annual Battle at The Villages Tournament.

Outside the office Kyle is a husband and father to two beautiful girls along with their cat. In his spare time he likes to spend time with his family, travel, play golf and swim. He is also a huge sports junkie and even bigger motorsports fan and loves to attend racing events when he can.

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