>> Andersen Stock Program
Andersen Stock Put to Good Works
"It is a wonderful way to give back," comments Kathy Lindahl, retired Employee Service Center Manager of Human Resources at Andersen Corp. She is referring to a program that enables Andersen retirees and employees to use shares of Andersen stock for charitable giving. "It is easy to do and offers significant advantages. I receive a charitable deduction for the full market value of the stock on the day of the gift and avoid all capital gains taxes. Many people may find that they could give more than they thought possible by participating in this program for their charitable giving." As a former board member of Family Means, Kathy has used the program to make annual and campaign contributions to the organization, which has raised over $5 million for a new facility in Stillwater.
Since the program's inception, Andersen people have directed over $1,054,000 to their favorite charities.
How it Works
Andersen Corporation created this program with the First State Bank and Trust in Bayport and the St. Croix Valley Foundation. The Foundation has established a charitable trust at the Bayport Bank to accept gifts of Andersen Corporation stock from individuals to benefit charitable organizations.
Steps to Take
- Consult with your professional advisor - attorney, tax advisor, financial planner, etc.
- Establish a Donor Advised fund at the St. Croix Valley Foundation.
- Arrange with the First State Bank and Trust in Bayport for the transfer of Andersen Corporation stock to the St. Croix Valley Foundation Charitable Trust.
- The trust will sell the stock and use the proceeds to fund your Donor Advised Fund at the Foundation.
- Make grant recommendations supporting your favorite nonprofit organizations to the SCVF Board, which meets monthly.
- Note that you can make one stock donation to your fund at the Foundation, obtain the charitable deduction for that taxable year, and then recommend over time grants to various nonprofit or religious organizations.
Fees
- A $50 transaction fee is deducted from the proceeds by the First State Bank and Trust of Bayport.
- St. Croix Valley Foundation fees vary with the type of fund created. There is a $300 fee to establish a donor advised fund.
Why Consider Gifting Appreciated Stock?
Appreciated stocks, bonds and other securities can be very attractive vehicles for charitable gifts.
- Capital gains taxes are avoided by gifting appreciated securities directly to the St. Croix Valley Foundation or other 501 (c) 3 organizations.
- Your charitable deduction is based on the fair market value of the stock on the date of the transfer.
- Gifts of qualified assets are deductible up to 30% of your adjusted gross income. Any unused deductions may be carried over for up to 5 years.
- A one-time gift to the Foundation can be used to distribute grants to multiple organizations over time.
For More Information
| Jane Hetland Stevenson | Kathy Elbert, Trust Department |
| St. Croix Valley Foundation | First State Bank & Trust |
| 516 Second Street, Suite 214 | 900 N Highway 95 |
| Hudson, Wisconsin 54016 | Bayport, Minnesota 55003 |
| 715-386-9490 | 651-351-3762 |
| jstevenson@scvfoundation.org |
Kathy Lindahl will gladly speak with you about her experience with the program as well. She can be reached at 651-436-7115.