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Foundation president makes gift of appreciated stock

RELEASED: Nov. 25, 2009

Casey Sylla
Casey Sylla

EAU CLAIRE — The stock market is finally seeing some consistent gains, which may be good news for people thinking of using appreciated securities to make calendar year-end gifts to their favorite nonprofit organizations.

Casey Sylla, president of the University of Wisconsin-Eau Claire Foundation board, recently made a gift of more than $28,000 in appreciated stock to the Foundation. He also has given stock in the past to benefit the UW-Eau Claire Center for Excellence in Teaching and Learning. CETL works with UW-Eau Claire educators and students to improve the quality of teaching on campus and to improve students' overall learning experience.

In addition to having the satisfaction of helping CETL, Sylla received a tax advantage by giving stock, said Kimera Way, Foundation executive director. He can take a tax deduction on the gift for the full market value of the securities and also avoid the tax due on capital gains.

Sylla said the tax savings encouraged his gift of stock.

"I was inclined to make the gift in stocks so I could support CETL while reaping the benefits from the tax advantages," Sylla said. "It was a win-win situation."

For information about making a gift of stock to the Foundation, contact Diane Doudna, director of annual giving and major gifts officer, at 715-836-3819 or doudnadn@uwec.edu.

The Foundation office will be open during normal business hours, 7:45 a.m.-4:30 p.m. weekdays, throughout December, with the following exceptions: The office will be closed Dec. 24, Dec. 25, Dec. 28 (mandatory furlough day), Dec. 31 and Jan. 1, 2009.

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KH/DW/JB

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