World War II Scholarship Recipients Announced
The Nebraska State Historical Society Foundation's Scholarship Committee has chosen this year's World War II Scholarship recipients. The recipients will receive a onetime scholarship award of $1,000. The 2005 winners are: Ashley Krause, Big Springs; Kaitlin Berreckman, Cozad; Trenton Talbitzer, Kearney; Vanessa Hatfield, Kearney; Lindsey Weiss, Gothenburg; and Lindsay Exstrom, Minden. Congratulations to all and good luck in all your future endeavors.
Pearl Harbor Awards Recipients Announced
Each year the NSHS Foundation awards twenty-two students a Pearl Harbor Remembrance Award to memorialize each of the twenty-two Nebraska sailors who remain entombed aboard the USS Arizona at Pearl Harbor. The award this year of $150 went to the following students: Keri Johnson, Broken Bow; Vanessa Hatfield, Kearney; Dustin Mertz, Kearney; Stephanie Claus, Lincoln; Christine Dahl, Lincoln; Taylor Biltoft, Nelson; Amber Macek, Ravenna; Kelsie Wadle, Big Springs; Angela Reynolds, Wood River; Lindsay Exstrom, Minden; C. Dustin Walker, Gothenburg; Kelsey A. Foltz, North Bend; Daniel Pfeifer, Madison; Madilynn Bourret, Potter; James Perry, Omaha; Cameron Billingsley, Omaha; Leah Woodland, Omaha; Evan Luxon, Omaha; Samuel Simpson, Mitchell; Hondo Fanning, Wauneta; Chris Tvrdy, Cozad; and Kay Broekemeier, Central City.
Register Your Team for the Lincoln History Mystery, May 20, 2005
This year, teams will hunt for clues in the historic Haymarket. Teams will rally at Barry's Outback on Ninth and Q streets. This is a unique educational event that is loads of fun. Monies raised support special projects of the Nebraska State Historical Society. If you haven't experienced History Mystery, join us on Friday, May 20, 5:30-9:00 p.m., and be prepared to be a bit unscrupulous as you solve the mystery!
Visit www.nebraskahistory.org, or call 402-435-3535 to find out more.
Take Advantage of Membership Benefits: Discover Nebraska this Summer
Gas prices keeping you close to home this summer? Why not take family and friends on a tour of Nebraska? Your membership benefits include unlimited free admission to the Nebraska State Historical Society's historical sites plus discounts on museum store items. Nebraska State Historical Society sites include: Fort Robinson Museum and the Chimney Rock National Historic Site to the west; the Senator George Norris House and Willa Cather State Historic Site to the south; Neligh Mill and the John G. Neihardt State Historic Sites to the north. In Lincoln, visit the Museum of Nebraska History and the Thomas P. Kennard House. Spend a hot summer day researching in the Library/Archives at the NSHS Headquarters, 1500 R Street, Lincoln; or consider a visit to the Gerald R. Ford Conservation Center. Lots of wonderful possibilities! For further information about these Nebraska treasures visit www.nebraskahistory.org.
Private Support Helps Purchase Needed Items for Fort Robinson Cheyenne Outbreak Barracks
A private donor recently created a trust fund in which the Foundation will receive annual gifts to support Fort Robinson and Chimney Rock. Tom Buecker, curator, Fort Robinson Museum in Crawford, welcomed the donation and put it to good use by purchasing an array of great things, from a regulator clock to replica dust covers for the shelves in the Cheyenne Outbreak Barracks to help re-create the barracks interior. Tom stated, "It is great to have people that care about the site and we appreciate the generosity of our donors." The Foundation maintains a "wish list" from all of the divisions where private support can be most beneficial.
Foundation to Offer a One-Day Motor Coach Tour in June 2005
The Foundation's Spring Motor Coach Tour is tentatively scheduled for Friday, June 3. We will pick up passengers in Lincoln and Omaha. Tentative tour sites will be the Lewis and Clark State Park in Onawa, the Sgt. Floyd monument, and the Lewis and Clark Visitor Center in Sioux City. Further details will be mailed to members in April. Contact us at 402-435-3535 with any questions.
Donating Appreciated Securities Can Reduce the Cost of Your Gift
When most people are asked to make a charitable gift, they reach for their checkbook. Why? Because giving cash is simple and convenient. For small gifts, giving cash certainly makes sense, but when the donation gets larger, you should consider giving appreciated assets such as publicly traded stocks or mutual funds.
Suppose you would like to make a $10,000 gift to the Nebraska State Historical Society Foundation. If you write a check for $10,000, you will receive a $10,000 charitable income tax deduction. If you are in a 35 percent income tax bracket (federal and state) and itemize your deductions, you will reduce your taxes by $3,500 ($10,000 x 35 percent). The net cost of your gift will be $6,500 ($10,000 - $3,500).
Giving Appreciated Securities
Now, suppose instead of giving cash, you donate $10,000 of publicly traded stock you purchased ten years ago for $2,000. First, just like a gift of cash, you will be able to claim a $10,000 income tax charitable deduction, thereby reducing your taxes by the same $3,500. In addition, you will avoid paying the capital gains tax you would have paid if you had sold the stock rather than giving it to charity.
If you sell the stock, you will realize an $8,000 long-term capital gain. If you are in a 20 percent capital gains tax bracket (federal and state), you will pay $1,600 ($8,000 x 20 percent) in capital gains tax. However, by donating the stock instead, you will forever eliminate this potential tax liability.
By giving stock instead of cash, the net cost of your gift will be further reduced from $6,500 to $4,900!
How Much More Can You Give?
If giving $10,000 cash costs $6,500 after tax, how much more stock can you give for the same after-tax cost as giving cash by taking into consideration your additional capital gains tax savings? Based on these assumptions, you can give $13,265, nearly 33 percent more!
By funding your charitable gifts with appreciated securities, you can either give the same amount for a lower tax cost ($4,900 vs. $6,500), or give more for the same after-tax cost as giving cash ($13,265 vs. $10,000). The choice is yours!
Giving Stock You Want to Keep
If you own highly appreciated stock you would like to keep, consider still funding your charitable gifts with that stock and then use the cash you would have donated to purchase new shares of the same stock, even on the same day! You will increase the cost basis in your newly repurchased shares to the new repurchase price and that can save more taxes later!
Jackie Spahn, Executive Director
Nebraska State Historical Society Foundation
Kinman-Oldfield Suite 1010
128 North 13th Street
Lincoln, NE 68508-1565
Toll Free: 888-515-3535
2004-05 Foundation Board of Directors
Allison D. Petersen, Walton, President
Steven E. Guenzel, Lincoln, Executive Vice President
Jack D. Campbell, Lincoln, Vice President
C. John Guenzel, Lincoln, Treasurer
Joanne F. Shephard, Valentine, Secretary
James C. Creigh, Omaha
Bruce M. Frasier, Omaha
Martha Greer, Lincoln
Dr. James W. Hewitt, Lincoln
Dr. William F. Karrer, Omaha
Dr. Frederick C. Luebke, Lincoln
Carol Maddux, Wauneta
Dr. Martin A. Massengale, Lincoln
John D. Massey, Scottsbluff
George H. Moyer, Jr., Madison
James F. Nissen, Lincoln
Andrew D. Strotman, Lincoln
John W. Webster, Omaha
Dr. John Wunder, Lincoln
Patrick Kennedy, Omaha, NSHS President, Ex-officio
Margaret Allington, Lincoln, NSHS Treasurer, Ex-officio
Lawrence J. Sommer, Lincoln, NSHS Director, Ex-officio
March / April 2005 Issue