Couple Helps Local Library
Beverly and Gene Johnson
In 2011 Wausa needed new library facilities. So as they have done often in the past, Gene and Beverly Johnson have made a major gift to the community.
Gene and Beverly each used a Charitable IRA Rollover to make a combined gift of $40,000 to move the project forward. The plan was to build on to the current library and use the older part of the building as a meeting space.
The Charitable IRA Rollover law, which expired December 31, 2011, allowed those age 70½ and older to transfer funds from an IRA to a charity tax free.
“It certainly was a great way to make a charitable gift because you don’t have to pay taxes on the IRA distribution,” said Gene.
Gene knows quite a bit about finances. He has lived in Wausa all his life and worked at Commercial State Bank for 42 ½ years.
“No matter what he gets involved in, Gene is always the financial manager of everything,” said Beverly, who is originally from Ceresco.
Gene is proud of his hometown. “I’m prejudiced, you know, but the best thing about Wausa is the people. It seems like we all pull together. Once something is decided, even if you weren’t for it, we work together to get it done. And after all, we’re Swedish…Wausa has to be great!” he said.
Gene and Beverly say that living in their community of just over 600 people keeps them busy. They are especially active in their church and their senior citizens group. On Saturday morning, the seniors serve homemade rolls and coffee to more than 70 people each week.
“It’s a nice way for people of different ages to come together,” Gene said.
The Johnsons also used a Charitable IRA Rollover several years ago to make a significant gift to the Wausa Community Foundation Fund endowment.
“An endowment is a great thing to have in the community. It takes a while to educate people about what an endowment is and how it works. But it’s important because it keeps on giving. We’re not going to be here forever. It’s important to leave something behind for the future generations,” said Gene.
Beverly agreed. “We have been so blessed. The Lord’s been good to us. We need to give back.”
