Dick and Terri Auchter make gifts of appreciated stock a key part of their charitable giving, using the Community Foundation to help them do it.
“I tend to give almost all of my gifts to the Foundation in stock,” Dick, a former Board and Executive Committee member, said. The reasons, he summarizes as “taxes and timing.”
On taxes: The appreciated shares he gives to the Richard and Terri Auchter Family Fund within the Community Foundation are shares he doesn’t have to pay capital gains on. As a nonprofit organization, the Foundation doesn’t have to pay the tax either. He is a retired long-time employee of Kimberly-Clark Corp. so the Auchters have appreciated K-C stock they can use for charitable giving. “It just makes perfect sense from any tax angle you look at,” Dick said.
On timing: “You like to donate when the stock is high. You get more bang for your buck,” Dick said. While the same tax advantages exist for gifts made directly to almost any favorite nonprofit organization working in the community, Dick said he prefers to give stock through the Community Foundation because it allows him to give grants to favorite causes – theirs mostly concern food, shelter, clothing and education – when he chooses, even if that time doesn’t coincide with the best time to give the stock. “I am able to control when I choose to give and where,” Dick explained. “It goes into the fund and we can give modest amounts to a number of causes.”
And there’s another reason. “It’s an awful lot easier to do it through the Foundation and let them do the administration,” he said, adding that in his annual giving he includes a gift to the Friends of the Foundation Fund, which supports our operations, as a sort of thank you for the service.
Read our annual Report to the Community at www.cffoxvalley.org/CommunityReport.