Personal Giving Stories

CHARITABLE STRATEGY UNLOCKS GAIN AND LOCKS IN LIFETIME INCOME

“It was the perfect solution to our ‘problem’ because our large capital gain wasn’t taxed, and we locked in lifetime income that was higher than other options.” —Chris Golden (’75)

Chris and Mark Golden are not professional stock pickers, but they are shrewd investors and chose one stock that experienced hyper-growth. “It was a real dilemma; we knew the stock was at a very risky level, but to sell it would result in a big capital-gain tax,” Mark recounts.

The stock paid only a very small dividend—and being recent retirees, they wanted to enhance their lifetime income. The solution was a gift to the U of I Foundation that would avoid the capital-gain tax, provide a much higher level of lifetime income, and lower their tax bill with a deduction.

Adding to the appeal was the couple’s affinity for Allerton Park. “Chris has always been connected to Allerton, beginning with 4-H camp as a child,” says Mark. Chris fondly recalls her visits to Allerton as a U of I student and more recently through a Peoria hiking club.

After their lifetimes, their six-figure gift will fund the Christine L. (’75) and Mark Q. Golden Endowment for Allerton Park—providing support in perpetuity. “The fact that our gift will outlast our lifetimes is very gratifying, and being able to help while also achieving a financial objective made it even more appealing,” Mark concludes.

The U of I Foundation gift planning staff is pleased to answer your questions and offer assistance at any time. Please contact the Foundation to learn more.