Your Year-End Gift to the Foundation Could Brighten Your Spring
Year-end tax planning can result in extra tax savings next April when your tax bill comes due. This newsletter highlights some of the ways you might be able to reduce your income taxes and provide important support for the Nebraska State Historical Society. Not all of the ifs, ands, and buts for year-end tax planning are covered in this newsletter, but the topics will get you thinking! Be sure to contact your tax advisor to see how these strategies might benefit you.
As you consider your year-end tax planning, consider making good use of the income tax charitable deduction. Your 2003 year-end gift can significantly reduce your income taxes, while providing the meaningful difference in what we do. And the charitable gifts you make now could leave you much better off come April 15. The amount of the income tax savings will depend on your tax bracket.
For example: If you are in a 31 percent income tax bracket in 2003, and you itemize your deductions, a $1,000 gift to us by December 31, will save you $310 in 2003 taxes. The higher your tax bracket, the more money you save with a charitable gift.
Consider making more charitable gifts in those years when you have the most income and are in the top federal income tax brackets. If such is the case for 2003, you may wish to consider accelerating future charitable gifts into this year. Check with your tax advisor.
Because of the income tax charitable deduction, anyone who makes a gift by December 31 and itemizes can reduce the sting of income taxes for 2003.
There are many year-end tax-savings gift ideas that can reduce your tax liability while helping us to preserve and protect Nebraska's history. We would be pleased to provide you with further information. Also, we urge you to discuss your tax planning with your accountant or other professional advisor.
Giving Reminders for 2003
Gifts made by December 31 are deductible in 2003 and can reduce taxes. Your gift must be postmarked by December 31 to qualify for a 2003 gift.
Giving long-term appreciated property or securi- ties rather than cash can often provide greater tax savings.
Giving through wills, trusts, and other long-range financial planning instruments can be convenient, economical, and can help reduce estate taxes.
Ask your professional advisor about the giving method that provides the most benefits to you.
Giving is, of course, much more than tax brackets and charitable deductions. Your charitable gifts make an important difference in what we are able to accomplish. With your help, the Nebraska State Historical Society can provide greater access to the many fascinating stories of our state and the artifacts that tell those stories.
For more information on how to significantly reduce your income taxes next spring and help us safeguard and share our state's history, contact the NSHS Foundation, your tax advisor, or attorney.
Foundation Trustees Host Reception for Preservation Award Winners in McCook
Foundation trustees from southwest Nebraska hosted a reception in McCook to honor this year's recipients of the Nebraska Preservation Award, Jan and Van Korell. The Korells were selected for the award by the Nebraska Preservation Board for their efforts in restoring the only home in Nebraska designed by Frank Lloyd Wright. The Korells own and reside in the McCook home. The Foundation trustees hosted nearly fifty guests during the reception at the Korell home on September 9. Pictured on the patio overlooking the garden are Foundation trustees Cloyd Clark, McCook; Carol Maddux, Wauneta; the Korells; Jackie Spahn, Foundation director; and Wag Wagner, Culbertson.
Board of Directors Approves $ 83,858 in Grants
At the September 26 meeting, the Board of Directors unanimously approved the recommendations of the Grants Committee to release $83,858 in grants to the Historical Society. This quarter's grant support includes:
interns in library/archives and conservation
outdoor educational amphitheatre at Chimney Rock
collections acquisition for Fort Robinson
fifty-five History Day scholarships
facility support at Gerald R. Ford Conservation Center
Board Announces Plans for Spring Annual Meeting
The Board of Directors has announced plans to host the 2004 annual meeting of the Board of Trustees in Brownville in April. Look for more information in the January newsletter and make plans to attend the annual meeting and visit this historic town.
Foundation Hosts Sneak Preview of Recovered Views Photograph Exhibit
Friday, September 26, the Foundation hosted a reception and sneak preview of the new photograph exhibit at the Museum of Nebraska History in Lincoln. Recovered Views: African American Portraits, 1912-1925, is a stunning documentary of life in a vibrant middle-class black neighborhood in a small midwestern city - a society rarely depicted in any medium. The collection is a fascinating mix of portraiture and high art.
The exhibit, which features forty photographs, officially opened the night of September 26 to the praises of the more than 150 people in attendance.
The success of the exhibit would not have been possible without the help of many. The Foundation would like to thank everyone who participated in the discovery of the collection and those who provided the photographs, artifacts, and stories that will most certainly help us better understand and appreciate the culture of a black community in the early 1900s.
The Historical Society would not have had the opportunity to share this extraordinary collection if private funding was not available to assist with the costs of the exhibit. Several generous individuals and organizations joined with the Foundation to underwrite the exhibit's costs.
The exhibit will remain at the Museum of Nebraska History in Lincoln through January 11. The exhibit will travel throughout the country with the Mid-America Arts Alliance's ExhibitsUSA. The first stop on the national tour is Roosevelt University in Chicago.
Earlier that afternoon, the board was treated to a behind-the-scenes tour
through the exhibit with exhibit curator John Carter.
2003-04 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
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
Robert D. Northrop, Lincoln
Cynthia Olson, Lisco
Amy Scott-Willer, Omaha
John W. Webster, Omaha
S. N. "Bud" Wolbach, Grand Island
Dr. John Wunder, Lincoln
Lawrence J. Sommer, Lincoln, NSHS Director, Ex-officio
Jack Preston, Lyman, NSHS President, Ex-officio
Patricia Phillips, Omaha, NSHS Treasurer, Ex-officio
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
September/October 2003 Issue