Photo by Curt Knoke Martha and Curt Knoke each year add to the fund they set up with the SACF by donating appreciated stock, bonds or mutual fund shares.
Editor’s note: This is another in a monthly series of articles celebrating the 25th anniversary of the Shawano Area Community Foundation.
The holiday season is not only a good time to reflect on what we’ve been given, but it’s also a critical time for nonprofit organizations to raise contributions that will sustain them for the coming year.
Tax-deductible contributions to the Shawano Area Community Foundation can be used to start a new charitable fund or add to any of the foundation’s existing 75 charitable funds that generate grants year after year to benefit a wide range of nonprofit organizations.
These funds include the Shawano Area Fund, a lasting endowment that accepts donations of any amount to be used to provide annual grants to local nonprofits. The foundation’s volunteer grants committee selects grant recipients through an application process.
Gresham residents Curt and Martha Knoke set up the Curt and Martha Knoke Immediate Needs Fund with the SACF. The Knokes add to their fund by donating appreciated stock, bonds or mutual fund shares.
“In early December we look at our investment portfolio and pick an investment or two and donate shares to SACF,” said Curt Knoke, who is a SACF board member. “The SACF sells the shares, we don’t pay capital gains, and our charitable deduction can equal the stock’s fair market value on the date of the gift.”
During the following year as community needs arise, the Knokes are able to make grants from their fund to help nonprofits.
“It’s a win, win — for us and the community,” Curt said.
The Knokes agreed to share their giving story to encourage others to have a similar year-end strategy.
Year-end giving tips
• If you’d like to keep Uncle Sam’s name off your gift list, consider a charitable donation of appreciated shares of stock held at least one year. Donations to the SACF, through its Community Foundation for the Fox Valley Region partner, may be claimed as itemized deductions on your federal income tax return in an amount equal to the stock’s fair market value on the date of the gift. Please call the CFFVR at 920-830-1290 prior to transferring the shares with the security name and number of shares to be transferred. Consult your financial advisor early to learn their deadline and length of time needed to execute the transfer.
• Donations of real estate, personal property and shares of ownership in private companies to the SACF can be used to benefit a favorite nonprofit cause or organization.
• Consider rolling over an IRA directly to a charity.
• Checks and cash gifts must be postmarked by Dec. 31 and gifts via credit card completed before midnight Dec. 31 for a 2015 tax deduction.
• Take advantage of the reflective spirit of the season to consider your long- term charitable plans. A gift to the SACF through your estate, retirement or insurance plans can provide a lasting legacy for your favorite causes.
The Shawano Area Community Foundation was established in 1990 by community volunteers to preserve and improve the quality of life in Shawano and the surrounding area. It partners with the Community Foundation for the Fox Valley Region, the second largest certified community foundation in Wisconsin. For information, visit www.ShawanoFoundation.org.