An Interview with Nick Nemec
By Angie Matthiessen
There is so much to love about our United Way of Charlotte County Board of Directors. They all bring something unique to the table and are passionate for our mission to mobilize the power of our community to break the cycle of poverty.
This week, I had a chance to discuss an important topic with one of our newest board members, Nick Nemec, Financial Advisor for Edward Jones. I have known Nick and his family a long time. In fact, my daughter has taken dance classes for many years at his wife, Casey’s dance studio, Studio Seven.
I first asked Nick, “Why did you join the UWCC board of directors?” Nick shared he has been in the community for 38 years and in his eyes he viewed Charlotte County as great, bright and shiny. His participation on our Community Impact Panels allowed him to see the community in a different way. He experienced a new understanding, beyond just being in business, wanting to dive in deeper to make Charlotte County better, and he knew UWCC would give him that opportunity.
I asked Nick what type of planned gifts are offered through Edward Jones and learned he works often with Donor Advised Funds, also known as charitable gifts. Simply put, it works like this: donor makes any size gift; gift is invested based on donor preferences; grows tax free; and expands the charitable impact.
What are the benefits to donors by including a nonprofit in their estate planning? Nick said, “it is tax deductible and most especially, the donor is fulfilling a purpose greater than themselves. Likewise, the benefits to the nonprofit are huge when receiving money not expected.”
Is life insurance a good way for donors to give to nonprofits? Nick emphasized permanent life insurance can be a valuable tool as part of a gifting strategy because of the ability to designate a specific dollar amount to a charity at death, as well as increase the amount left to the charity. It can provide this benefit income tax free and estate tax free if structured properly.
Curious as to what the number one thing donors and nonprofits should know, I asked him. Nick replied, “The number one thing donors who want to make a gift to a nonprofit through planned giving should know is it’s easier than people think. The impact on your portfolio is beneficial and there is no set amount required. The number one thing nonprofits should know if you want to attract planned gifts is to build relationships. A donor that gives this gift is providing a gift of growth and is investing wisely.”
Nick, is there anything you would tell senior citizens about Donor Advised Funds? He commented, “Planned estate giving is important. It’s tough to talk about, but planning for end of life and for succession is good. They need to know they have other options.”
In your opinion Nick, why is it good to donate to United Way of Charlotte County? He excitedly said, “UWCC touches so many lives in the community. The money is vetted in a sound process which is really important. We make sure to use every dollar carefully and responsibly.”
The tax and non-tax issues associated with charitable gift planning can be complex and consultation with qualified professional advisers is strongly recommended. You may want to develop relationships with solid financial consultants and institutions. Successful planned giving programs begin with informal “getting to know you” sessions or interviews with someone you feel comfortable with.
UWCC has the ability to accept any of these methods of charitable giving and would be available to meet with you. For more information about United Way of Charlotte County’s mission: Mobilizing the power of our community to break the cycle of poverty, please contact Angie Matthiessen, the Executive Director of United Way of Charlotte County. She can be reached at director@unitedwayccfl.org or at 941-627-3539.