EddieEndures - Children's Home Society

Guardians of the ChildrenGUARDIANS OF THE CHILDREN is a planned giving program established to recognizeand honor those people whose vision, philanthropy, and love of children has beendemonstrated by a planned gift to Children’s Home Foundation’s endowment fund.A golfer knows the pure exhilaration of getting a hole-in-one! But how often doesa hole-in-one come to benefit hundreds of children?In August of 1991, DeAun West was a participant in the Rushmore Rotary GolfTournament to benefit Black Hills Children’s Home. Her son-in-law, George Twitero,was an active Rotary member, and invited DeAun to play in the event.At one of the holes, there was a hole-in-one contest to win a Cadillac—andDeAun aced the hole! Hole-in-one contests appear at most any golf event, but howoften does a person actually win? The place went wild!But here is where the story takes a twist. The Rotarians had insurance to coverthis possibility, but the insurance was not applicable because DeAun hit from thewomen’s tee. At that shorter distance, there was no insurance coverage.Wanting to do the right thing, the Rotarians committed to purchase the Cadillacfor DeAun. But DeAun selflessly offered another solution. She forgave the moralobligation of the Rotarians, in exchange for their promise to pledge $30,000 (thevalue of the car) to Black Hills Children’s Home.Over the years, this “deal” has evolved into Rapid City Rushmore Rotarybecoming a significant partner with Children’s Home Society in the support of itsmission. The club surpassed the $30,000 “deal” many years ago. Through theproceeds of their annual Golf Tournament and the Mount Rushmore Winter Gala,the Rapid City Rushmore Rotary Club has raised almost $1 million for CHS!And it all started with a selfless, ace-in-the hole negotiator named DeAun West!In addition to monthly gifts to CHS for many years, DeAun and her late husband,Mack, made a provision for CHS in their Charitable Remainder Uni-Trust.Tax Benefits of a Stock GiftDeAun WestWith gifts of appreciated stock held for more than one year, there is potential to receive double benefits!1) You receive a charitable deduction for the value of the stock (when given), and2) You avoid a capital gains tax on the stock appreciation.“I grew up during the Depressionyears, as one of six kids, andthough I never felt we were ‘poor’,I do remember the time that wetore the floor furnace apart,because someone thought a dimehad been dropped there. But as Ireflect on what our lives were like,we were blessed in so manyways. Not so much with things,but with values and love, based ina strong faith in God.I was introduced to Children’sHome through my kids. When Ifirst heard some of the stories andsituations that brought kids toCHS, it brought me to tears. Whatthey had been through wasbeyond my imagination. Howwonderful that they have a safeplace to go, where they canreceive counsel and tender care,and be around people that believein them.In this day and age, there are somany ways to give to so manydeserving organizations. Butaside from my church, the work ofChildren’s Home Society has myheart.”Important points to consider:• When giving stock to a qualified charity, you must give it “un-sold”.• To avoid paying capital gains tax, you must have owned the stock for one year or more.• It is generally not advisable to donate stocks that have declined in value.• There are limits to charitable giving deductions. For appreciated property, it can be 30% of adjusted grossincome. Total charitable contributions can be 50% or adjusted gross income.• Gifts of stock can typically be given easily by electronic transfer.Tax laws can change from year to year. It is always recommended that you consult your tax advisor in regardto your personal situation.For more information about how your stock gift could support the mission of Children’s Home Society, you oryour financial advisor can contact Rick Weber at (605) 965-3127, or email rick.weber@chssd.org.5