GBMC Yaggy Society Members Give, Again
Fast forward to 2016. The couple was doing some "house-cleaning" of their investment portfolio and decided they wanted to sell 10 different stocks that alone were insignificant, but together were more substantial. To sell the stocks, they would owe taxes on the capital gains that had accumulated over the years and they would also owe broker fees on the sales. But their goal was to simplify their investments with an eye on their estate plans, and they did not like the 15 percent capital gains taxes and potential broker fees they would owe in the year of the stock sales.
Back in 2007, Dick Price worked with GBMC’s Senior Director of Principal Gifts, John Jeppi, in making his stock donation to a charitable gift annuity. He remembered and returned to John in 2016 and said, "Let’s do it again!" John created a gift illustration for Mr. and Mrs. Price that showed how a CGA for individuals of their ages would pay them an annuity rate of 6.7 percent for the rest of their lives. Additionally, they would owe no immediate capital gains taxes or broker fees.
The Prices liked what they saw and went ahead with the gift. Now, they can be content in knowing their favorite cause – GBMC nursing – will get a cash infusion to ensure its success in years to come. In return, the Prices will receive a generous income stream at 6.7 percent and support nursing through the H. Norman Baetjer and Jeanne H. Baetjer Center for Nursing Excellence Endowment.
The Elizabeth Duncan Yaggy Society recognizes loyal supporters, like the Prices, who have made gifts to GBMC in the context of their estate plans. If you are interested in learning more about the Yaggy Society or a gift that would pay you a lifetime income stream at rates often much higher than you would find in a Certificate of Deposit or even on the stock market, contact John C. Jeppi at 443-849-3303 or firstname.lastname@example.org.