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Brittany Price:
Welcome back to Living Local. In 2018 Americans gave nearly $430 billion to philanthropic causes. If you’re interested in redirecting dollars from the IRS to charities that you care about, an upcoming seminar and Clinton will be a very valuable resource. Joining me in studio is David Nelson with NelsonCorp Wealth Management; we have Shannon Sander-Welzien, she is the executive director with the YWCA of Clinton, Iowa; and Karen Witt, she is the development director with Prince of Peace Catholic school in Clinton. You guys, thank you so much for being here.
David Nelson:
Thank you.
Karen Witt:
Thank you for having us.
Brittany Price:
So David, first of all, tell us about the concept of this event and how it all came about.
David Nelson:
So I think your intro was perfect because it’s talking about redirecting dollars. It goes back about 30 years ago when I was first exposed to these techniques that wealthy people use for years. The average person on the street hadn’t been exposed to it. So we had a discussion a few years back with Sister Joan from over at St. Ambrose. And what we determined is we want to try and do one of these events where we bring people in and we start talking about how people can maximize their income, how they can get tax deductions in ways that they didn’t know were possible.
David Nelson:
And so we put it all together. We had about 300 people the first year they showed up. It was a fantastic event. Following year, we had about 175 people that came and now we’re going to try it in Clinton. We’ve got some great charities that we’re teaming up with and we think this should be a fun event.
Brittany Price:
That sounds like a great experience and such valuable information too, because you don’t know what you don’t know.
David Nelson:
Correct.
Brittany Price:
So if you’re giving people the strategies they can really reap the benefits of those. Karen, tell us what organizations are involved in this year’s event.
Karen Witt:
There are five organizations working with David and NelsonCorp Wealth Management. First one is the Paul B. Sharar Foundation at Clinton Community College who’s executive director is Ann Eisenman. The Sharar Foundation supports the student programs, faculty and staff at Clinton Community College. Each year, this Foundation awards more than 160 scholarships to needy students and both high school graduates and non-traditional students.
Karen Witt:
The next one is the YWCA, who’s executive director is Shannon. The YWCA’s mission is eliminating racism, empowering women, and promoting peace, justice, and dignity for all. The organization is one of the leaders in the Clinton community regarding these issues. YWCA programs such as their empowerment center for housing services, youth programming, childcare, health and fitness program, and more help Clinton residents meet their highest potential.
Karen Witt:
We also have Clinton Community School District Education Foundation whose director is Jennifer Graf. Their mission is to assist the ongoing development and success of Clinton community school district students and personnel through the enhancement of academics, arts, and athletic initiatives. The foundation provides donated funds for student education programs and activities.
Karen Witt:
Next, we have Mercy One Clinton Healthcare Foundation. Contact person is Julie Dunne. This foundation serves as a fundraising arm of Mercy One Clinton Medical Center. The Foundation channel’s donor wishes to help meet ongoing program and equipment needs, not simply to maintain standards but to enhance them.
Karen Witt:
And last but not least is Prince of Peace School Foundation. This foundation provides a permanent financial resource for Prince of Peace Catholic School, which is a pre-kindergarten through high school school system and it serves Clinton and the surrounding areas. Each year the Foundation provides thousands of dollars in scholarships, tuition assistance and capital improvement funds.
Brittany Price:
Wow. A lot of groups coming together and partnering for this event. So NelsonCorp Wealth Management, using your expertise to host and lead this event, have several nonprofits in the Clinton area that will be involved as well. Shannon, all of these partners coming together. What is the main goal of the event?
Shannon Sander-Welzien:
Well, the short term goal is to get as many people there as possible, so people that are looking for these opportunities to save on taxes and give more to their favorite charities. But the long term goal is the win-win-win of it all. Again, the donors really getting those tax benefits, saving money on taxes and then giving more to charities. And then in the end, the community benefiting from the charity is being able to do more for them. So that’s the ultimate goal I believe.
Brittany Price:
Win-win-win. I love that goal. You can’t go wrong with that. David, what specific topics will be covered at the event?
David Nelson:
So we have a whole bunch. So people need to come ready to learn. And so we’ll have some notes and whatever, little handouts so people can write notes. But big picture it’s a lot of tax benefits as far as for individuals. I don’t come across a lot of people that are interested in paying more taxes. They like to pay less. So we’re going to share several ideas as far as in that space. We’re going to talk about some really cool charitable techniques as well. Most individuals would like a little higher income. There’s ways to get a higher income guaranteed as far as through some of these vehicles. There’s all kinds of tax benefits.
David Nelson:
Most people have been trained through the years when they give a dollar away to charity, it’s gone. And these techniques aren’t about giving the away the dollar today. They’re going to reposition the dollar, get benefits from that dollar for the rest of their life and their spouse’s potentially. Then when they pass away, it’s going to go to charity. So, as you said, a win-win-win, and clearly over a period of time these type of techniques have been utilized by a lot of really high-end people. We want to let the average person know that they can participate as well.
Brittany Price:
That’s incredible. David, why is it so important to NelsonCorp. Wealth Management to offer these types of resources to the community?
David Nelson:
Very few people are comfortable with it as far as professionals out there. I was very blessed years ago to be able to spend time down in Charlotte, North Carolina and learn about these techniques. Came back, this was all I wanted to do. I got back and I got my head pounded in, as far as I bring up these ideas. It’s not just the technique. It’s also explaining to people in a way that they’re receptive to from the standpoint of understanding the concept.
David Nelson:
And so it’s really, really one of these things that we do as far as for the community as a whole, as far as quad cities. Last couple of years, Clinton this year, is to impact these charities, and most of the charities don’t have the fire power as far as because of the finances as far as to have the amount of heads that they would need to do this. So we want to partner with them and be able to help individuals get these concepts and then help them to implement them. And then the charities ultimately down the road are going to be the beneficiaries of some hopefully substantial gifts.
Brittany Price:
Right. Shannon, Karen, for you guys who are with these nonprofits, what does this mean to you guys as far as a NelsonCorp Wealth Management kind of stepping up to the plate here, offering this resource, educating the public about something that they may have not known about?
Karen Witt:
I think it’s invaluable for us because like David had said, we don’t have the expertise to help potential donors know what is out there, what’s available and what is maybe in their best interest.
Brittany Price:
What about you Shannon?
Brittany Price:
What about you Shannon?
Shannon Sander-Welzien:
Absolutely. We think just the creative options here that people don’t think of, thinking outside the box. Again, like David said, we’re used to going after that dollar and a lot of us are going after the same resources, and so just thinking creatively I think is important.
Brittany Price:
Yeah, definitely. Now, David, when and where is the event and how can people get involved?
David Nelson:
All right, I have my notes here. So it’s Tuesday, October 29th from 6:00 to 7:30 at Rastrelli’s restaurant in Clinton, and we’ve got wine and cheese. It’s going to be a fun event. I mean, some of this stuff could be boring, whatever, to people. We’re going to make it fun. We’re going to have fun. We’re going to learn together. Please call our office at (800) 248-9042 and a come out and join us. It’ll be fun. I promise people that. We’ve done a lot of these before as far as with various groups and people walk out, I believe feeling like they know more than when they got there and they had a good time. So win-win.
Brittany Price:
Definitely win-win-win. There you go. David, Shannon, Karen, thank you guys so much for being here.
David Nelson:
Thank you.
Karen Witt:
Thank you.
David Nelson:
Appreciate it.
Brittany Price:
All right, here is that number again. You guys call NelsonCorp Wealth Management at (800) 248-9042. We’ll also have these details posted in ourquadcities.com. More Living Local continues after this.
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