As a commodity trader on the Chicago Mercantile Exchange for 28 years, Jack Weaver knows a thing or two about how to buy and sell stocks to make a profit. But now he and his wife, Connie, love trading part of their cash giving in favor of tax-wise gifts of appreciated stock, to profit the causes they love.
“One of the advantages of working with a fund like NCF is you can work your stock investments,” Jack says. “So, if you like buying individual stocks, you can gift the long-term gains. You can sell the losers and book the loss, and use that against other gains. And then you can go back and repurchase the stocks, if you really like them, [but] you have to wait 30 days.”
As Jack and Connie have engaged in this type of strategic giving, they’ve honed in on the causes they’re passionate about, such as a local nonprofit that provides transitional housing for single mothers.
“The ministry has a building that they own, and they needed new windows,” Connie explains. “As you can imagine, it gets bitter cold here in Illinois with old, drafty windows, and it just broke our hearts to see these women and children freezing.”
Connie and Jack were delighted to be able to help buy new windows for the entire building.
When looking at their giving as a whole, Jack says he wants two things: “I want God to say, ‘Well done, good and faithful servant.’ And the other thing is I want to see people in eternity because of what we’ve done through our giving.”
Watch as Jack and Connie describe their journey together, and the joy of generosity that they’re finding along the way.