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Former Resident Benefits Bloomfield With Gift of Land

Robert Harm

Gifts of Real Estate

Former Resident Benefits Bloomfield With Gift of Land

A life-long interest in Bloomfield’s early history and county fair activities led a former Bloomfield-area resident, the late Robert Harm of Richardson, Texas, to make generous gifts to the Bloomfield Community Historical Society and to construct the Harm and Tulleys Agriculture Center, a multi-purpose agriculture center at the Knox County Fairgrounds. His donations continued a long history of giving by Harm’s family to the Knox County community.

Harm made a gift of land from the family ranch along Lewis and Clark Lake during his lifetime to fund these projects through the Bloomfield Community Foundation, an affiliated fund of the Nebraska Community Foundation. Because he donated the land, he did not have to pay capital gains tax on its appreciated value, and he received a charitable income tax deduction for the fair market value of the donated land.

“This method of gifting works best with appreciated property,” said his attorney, Steve Archbold of Bloomfield. “By using the tax laws to his advantage, Robert was able to make a tremendous gift to the community and, at the same time, help himself through a substantial income-tax deduction.”

Harm designated $50,000 of the proceeds from the sale of the land to the Bloomfield Historical Society and $200,000 to the Agriculture Center. 

Activities at the agriculture center revolve around horses and cattle but also include antique shows, farm and home shows, tractor and farm machinery events and other family-related programs, according to Sunny Nagengast of Bloomfield, who serves on the Knox County Agriculture Building Committee.

“My principal motivation for this gift was to honor my father and my uncle, Paul A. Tulleys,” Harm said prior to his death. “I am the last Harm of my generation. I decided it was up to me to do this.”

The Harm family moved to the gifted land along the Missouri River in 1933. It was the Depression, and “my father was broke and there was nothing in town for him, so somehow he made a down payment on a portion of what is now the ranch and started over,” Harm said.

Harm wanted other Knox County residents and former residents to consider charitable gifts to the community organizations they support. “If you want to make a gift, the way this was handled is a good way to do it. The sale of my ranch and the legal expertise of my lawyer, made it possible,” he said.

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$2.3M Estate Gift for Entrepreneurship and People Attraction

Rudolph H. Elis

$2.3M Estate Gift for Entrepreneurship and People Attraction

A $2.3 million endowment has been established to support entrepreneurship and people attraction in north-central Nebraska. Rudolph H. Elis created a donor-advised fund in 2006 that was funded by a bequest upon his death.

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Siberts’ Challenge Grant Creates Endowment in Red Cloud

Frank and Shirley Sibert

An attitude of gratitude prompted Frank and Shirley Sibert, former longtime residents of Valentine, in north-central Nebraska, to give a $100,000 gift of appreciated securities to the Red Cloud Community Foundation, an affiliated fund of the Nebraska Community Foundation and their hometown, in South Central Nebraska.

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Boettchers Provide Scholarships for Spencer Students

Bruno and Laverne Boettcher

Bruno and Laverne Boettcher, were a couple so grounded in their hometown of Spencer, in North Central Nebraska, that they simply could not be described apart from it.

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More Donor Stories...

  1. Harold and Marilyn Rink »
  2. Robert Harm »
  3. Lemoine “Andy” and Geri Anderson »
  4. Paul and Karen Seger »
  5. John Daro »
  6. Rolland R. Ramsthel »
  7. Verlene and Gerald Gunderson »
  8. Don and Alice Harpst »
  9. Jim and Ginger Nissen »
  10. Kathryn Wall »
  11. Doris Miller »
Title Description
Charitable Gift Annuity A Charitable Gift Annuity, allows the donor to make a gift and receive fixed income payments for life and/or for the lifetime of a surviving beneficiary. More information.
Charitable Remainder Trusts A Charitable Remainder Trust is a legal instrument into which a donor transfers irrevocably the ownership of assets such as securities or real estate. In return, the donor receives an immediate charitable income tax deduction and the right to receive an income. When the trust ends, the property remaining in the trust passes to the Nebraska Community Foundation to be used according to the donor’s directions. More information.
Donor-Advised Funds A donor-advised fund can be established and funded either currently or with a testamentary gift. The donor or the fund advisors recommend grant disbursements to eligible charitable organizations within Nebraska Community Foundation guidelines. This type of fund also qualifies for the highest charitable income and estate tax deductions allowed by law, while bypassing capital gains tax on gifts of appreciated assets to the fund. More Information.
Endowment Building A Permanent Endowment Fund is held in perpetuity and invested in a manner that protects the principal while the investment income provides ongoing support for donor-designated projects and expenses approved by the Fund Advisory Committee. Many donors choose to give to unrestricted endowments of the affiliated funds they wish to support.
Gift of Ag Commodities Fluctuating prices have created opportunities for making tax-advantaged gifts of grain or livestock.
Gifts of Real Estate A gift of real estate offers several special tax incentives and other benefits. More Information.
Gifts of Securities Tax laws offer a triple tax benefit for gifts of securities (stock, bonds and mutual funds) that have increased in value since purchase or acquisition. Donors can receive several tax benefits: charitable income tax deduction, avoidance of capital gains taxes, and reduction of potential estate taxes. More Information.
Gifts of Tangible Personal Property Tangible personal property is broadly defined in the tax code as any property, other than land or buildings that can be seen or touched. More information.
Scholarships Scholarships, especially non-traditional scholarships, are a technique many donors have used to help strengthen the workforce for their hometown.
Wills and Bequests A bequest, a gift in your will, is an opportunity to make a difference in the quality of life in your hometown and continue the support you have provided during your lifetime. More Information.

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