Gift Type Spotlight: Appreciated Securities

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The First Fidelity & Tripp County Community Foundation recently received an unexpected gift that will forever bolster its efforts. The estate of Francis Kramer distributed $260,000 to the Tripp County Community Foundation—the largest individual gift since the local foundation’s inception in 1995. The gift will make $11,000 additional dollars available each year for distribution to local nonprofits.

“We had no idea this gift was coming,” said Dawn Covey, Tripp County Community Foundation Board of Directors, chair. “Not only will Francis’s contribution significantly impact our efforts for many years to come, but it will also help us meet a matching challenge from an anonymous donor.”

About one week before learning of Francis’s gift, the Tripp County Community Foundation Board of Directors was offered a challenge to raise $100,000 by a separate donor. In return, the donor would make a $50,000 gift. Thanks to Francis and this anonymous supporter, the Tripp County Community Foundation will nearly double in size.

A Full Life

Francis Kramer was born February 12, 1920, in Bassett, NE. He grew up farming with his parents in Rock County, NE, and continued to expand his farming and ranching business as he aged. In 2004, he met a woman named Gladys at a dance in Springview, NE, and the rest is history. Shortly after they were married in 2005, Francis decided to sell his family farm and move to Winner to begin a new life with his bride.

“He was very committed to giving back to the community of Bassett,” said Gladys Kramer. “After we moved to Winner 10 years ago, it was only  fitting that he would also support this community. Francis was a very kind and wise person. He was a hard working farmer and rancher who was naturally very giving. That’s just who he was.”

Transferring an Investment from Wall Street to Main Street

Francis donated appreciated assets to the Tripp County Community Foundation. Gifting appreciated assets, such as stocks, bonds and mutual funds (held for more than one year), directly to SDCF—rather than selling and donating the cash proceeds—is tax efficient for two reasons*:

  1.  Since the securities are donated rather than sold, the donor does not pay capital gains tax on the appreciation. The greater appreciation the securities have, the greater the tax savings.
  2. Donors giving long-term securities are entitled to an itemized deduction for the full fair market value of the securities donated. Donors can deduct up to 30% of their adjusted gross income annually. Any excess can be carried forward for up to  five years.

Francis Kramer took advantage of these gifting benefits and as a result, gave a gift that will benefit Tripp County for generations to come. You can do the same. Contact our staff  at 800.888.1842 for more details

* Everyone’s circumstances are different; therefore, you should consult your tax advisor for information relevant to your situation.