Our community is fortunate to have many great organizations that improve quality of life for today and for future generations. Before we created our donor advised fund with the Community Foundation, we donated to many nonprofits. Partnering with the Community Foundation helped us think more strategically about our philanthropic activities.
In 2011 when Dynetics converted to a 100% ESOP, we had a low cost basis stock transaction. A Community Foundation board member explained how advantageous it was for us to donate that low basis stock and create a donor advised fund that we could use over time for philanthropic activities. Creating our fund certainly mitigated the tax impact of our low basis stock event. More importantly, it helped us become more strategic with our giving. Our relationship with the Community Foundation exposed us to new ideas about philanthropic giving. It was a springboard that helped us map out our long-term giving priorities.
Philanthropy is now a seamless part of our long-term plans to advance causes that we care about deeply. We pray that our Church tithing helps bring eternal salvation through Jesus Christ to as many people as possible. We pray that HEALS will continue to help children in our local community grow up healthy with proper medical and dental care. We pray that the Huntsville Botanical Garden will continue to offer a beautiful and serene landscape for people to enjoy and educational activities that teach children about nature. We pray that Hudson Alpha Institute’s Memory and Mobility program can continue its genetics research to provide new and improved treatments and cures that Huntsville Hospital will be able to deliver in the future. And, we pray that more local high school graduates will have a great student experience at Auburn University and return to Huntsville to use their education to add their contributions to our outstanding community.
Leta and Michael DeMaioribus
The Community Foundation helped Dynetics employees be more tax-efficient with their charitable giving. Rather than paying capital gains taxes on low basis stock as it was sold, the employees had the option to donate a portion of their stock to their donor advised fund first, allowing more money to be available for charity. We created a win-win situation.