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TUESDAY,
FEBRUARY 1, 2005
Chris Kinnas
Investment Advice
Smart ways to
support charitable
groups
The holidays may be over,
but your spirit of generosity
is probably still intact. If
you want to support your
favorite charitable organi
zations, and you’d like to do
more than just send the
occasional check, you’ve got
some attractive options.
Let’s look at two of them:
charitable gift annuities
and charitable remainder
trusts.
Charitable Gift
Annuity
If you would like to
donate cash, stocks, proper
ty or other types of assets to
a charity but would like to
receive an income stream in
return, you may want to
consider creating a charita
ble gift annuity.
Once you’ve set up this
type of annuity and have
given the assets to your
selected charitable organi
zation, the organization will
pay you or a beneficiary
that you name a lifetime
income stream in the form
of regular, fixed payments.
The income received is
equal to a fixed percentage
of your original gift based
on your age, or the benefi
ciary’s age, at the time you
make your gift.
Besides offering you a life
time income source, your
charitable gift annuity can
provide you with some tax
benefits. You can claim an
income tax deduction for
the portion of the annuity
that represents the charita
ble gift. Also, part of the
payments you receive each
year may be exempt from
certain income taxes. And,
if you’ve given appreciated
securities to the charitable
group, you may be able to
delay capital gains taxes.
Charitable Remainder
Trust
If you want to give to a
charitable organization, and
you like the idea of receiv
ing an income payment for
life but wish to retain life
time control over the assets
you donate, you may want
to consider a charitable
remainder trust.
Here’s how it works:
Typically, you donate an
appreciated asset, such as a
stock or piece of real estate,
to the trust, which then
sells the asset and uses the
proceeds to purchase a port
folio of securities. From
these investments, you
receive an income stream
for life; upon your death,
the charitable organization
receives the remainder of
the principal.
By setting up such a trust,
you delay capital gains
taxes, and you can claim a
deduction on your current
year taxes. And because
you’re moving assets from
your estate, your beneficiar
ies will have fewer estate
taxes to pay.
Since the assets in the
charitable remainder trust
are going to charity, you
may want to replace them
by purchasing a life insur
ance policy on yourself,
using some of the income
from the trust and naming
your heirs as beneficiaries.
You may want to put the
policy in an irrevocable life
insurance trust. Because
the trust actually owns the
See KINNAS, page 7A
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The Warner Robins Area Chamber of Commerce hosted a ribbon-cutting ceremo
ny Jan. 20 for Dr. William Toler’s office at 2711 Watson Blvd. Dr. Toler has been a
dentist for 22 years. He graduated from Warner Robins High School and attended
Mercer University.
New Southern Bank reports earnings
Special to the HHJ
MACON - New Southern
Bank reported.the results of
operations for the quarter
that ended Dec. 31, 2004.
Net income for the fourth
quarter was $594,964, com
pared to $359,462 in the
fourth quarter of 2003 - a 66
percent increase. Net
income for the year ending
Dec. 31, 2004, was
$1,662,400, compared to
$908,465 for the year ending
Dec. 31, 2003, representing
an 83 percent increase in
annual earnings. Diluted
Goss earns CLTC
designation
Sherri Goss of the
Mass Mutual Financial
Group has
been
awarded a
profession
al degree in
the field of
long-term
care -
Certified in
Long-Term
Care
(CLTC).
The pro-
GOSS
gram is independent of the
insurance industry and
focuses on providing insur
ance professionals the tools
(To send in your event for the
Business Calendar, fax the
details to 988-1181, e-mail to
hhj@evansnewspapers.com or
mail to Houston Home Journal,
P.O. Box 1910, Perry, GA 31069.
The deadline for inclusion is 5
p.m. Fridays.)
Feb. 8: Writing a
Successful Business Plan
WARNER ROBINS - This
seminar, sponsored by the
University of Georgia Small
Business Development Center,
will show how a business plan
helps you start, build and man
age your business. Participants
will receive a detailed planning
outline and other information
to help develop a plan immedi
Citizens Bank earns 4-Star rating
FORT VALLEY - The
Citizens Bank, Fort Valley,
has earned high honors - a
4-Star rating - from
Bauer Financial Inc., Coral
Gables, Fla., an independent
bank rating firm.
This marks the 60th con
secutive quarter that The
Citizens Bank has earned a
Business
earnings per share for 2004
were $ 1 per share compared
to $0.73 in 2003.
The bank’s assets grew by
63 percent and ended the
year at $263,317,021 com
pared to $161,279,959 in the
fourth quarter of 2003.
During 2004, NSB com
pleted its third stock offer
ing raising $6 million in new
capital and formed NSB
Mortgage Services. The
bank plans to open a drive
through facility in down
town Macon in early
February and a branch
BUSINESSPEOPLE
they need to meet clients’
long-term care needs.
“One of my responsibili
ties as an insurance profes
sional is to help solve my
clients’ long-term care
needs,” Goss said. “That
includes explaining that
government programs such
as Medicare and Medicaid
will not pay for the care a
person will need should a
catastrophic illness occur.”
Goss stated that the cost
of care could be prohibitive.
“For instance, home care,
which costs about S2O an
hour, adds up quickly.
Nursing home care in the
region averages $58,000 per
year.”
Few families can afford
these costs, Goss said.
BUSINESS CALENDAR
ately. The class will be from 6
until 8 p.m. at the Advanced
Technology Development
Center, 151 Osigian Blvd.
Prepaid registration is
required; cost is S4O. (478) 751-
6592.
Feb. 9: Starting your Own
Business
(Open to Robins Air Force
Base personnel only)
WARNER ROBINS - This
seminar, sponsored by the
University of Georgia Small
Business Development Center,
will teach the requirements for
starting your own business.
Topics include financing, busi
ness plan formation, legal
issues, and more. The class will
recommended rating from
Bauer Financial. The award
is based on an analysis of
current financial data as
supplied by federal regula
tors, supplemented by his
torical data.
“Not only is The Citizens
Bank a testament to sound
banking and stellar per
office in Warner Robins in
mid-February. In addition,
the bank is relocating its
operations functions to an
off-site operations center to
allow for expansion in its
corporate headquarters on
Forsyth Road.
“The bank continues to
focus on growth and earn
ings along with expansion
into new Georgia markets,”
said Mark Stevens, presi
dent and CEO.
The bank’s stock is traded
over the counter. The sym
bol is NSBG.
“Long-term care insur
ance may be the solution.
My agency has made the
commitment to provide the
information clients need to
make the right decisions.”
The field of long-term care
is complex, she said.
“It intersects with other
professions such as financial
planning, tax law, home
care, government funding
and elder law,” Goss said.
“My ability to serve the
community depends on
understanding what
resources, such as housing
and services, clients will
need as they age and how
they will be paid for. The
‘CLTC’ program provides a
comprehensive education on
these subjects.”
be from 9 a.m. until noon.
Prepaid registration is
required; cost is S4O. (478) 926-
1256.
Feb. 10: Taking Control of
Your Communications
PERRY - Tonya Moore, of
the KEM Consulting Group,
will speak on the importance of
communications, and how to
influence and inspire with
effective communications
skills. The workshop will
include an “emergency kit” for
handling difficult people. Cost
is $35 for members of the Perry
Area Chamber of Commerce
and Perry Downtown District;
SSO for all others.
formance, it embraces the
values and work ethic that
have made this country
great,” said Karen Dorway,
president of the research
firm.
Established in 1906, The
Citizens Bank operates two
offices in Byron and Fort
Valley.
Improving your situation
Usually when individu
als or leadership teams
approach a consultant or
a professional coach,
there is some problem
they want to address. It
could be a critical issue, or
it could be as simple as
wanting to improve an
already good situation.
When a client describes
a problem, the consultant
or coach had better
address that situation!
It’s similar to a patient
describing symptoms to a
doctor - if the doctor does
not address those symp
toms, the patient will not
be very satisfied with
either the competency or
commitment of that doc
tor!
However, as any doctor
knows, the REAL problem
may not be the one the
patient describes at all. In
fact, the symptoms may
even be masking the real
problem. The doctor has a
dual responsibility now -
to address the concerns of
the patient and to address
the real problem that is
the root cause of the situ
ation in the patient’s
body.
Communication is vital.
The doctor needs the
information the patient
has, and the patient needs
the expertise and experi
ence of the doctor. The
patient and doctor have to
put what each knows
together to form as com
plete a picture as possible.
So it is with a profes
sional coach or consult
ant, who thinks, “This
person is telling me what
the situation is based on
his observations. I can
certainly talk about this
issue and give some sug
gestions about it ; That
may be all the client
wants or is ready to han
dle. But I also need to
explore deeper, and I need
to help this individual
consider additional infor
mation, to dig into poten
tial underlying problems
and needs.”
Sometimes the doctor,
realizing that the greatest
improvement will likely
occur only if the root
cause of the problem is
accurately identified and
addressed, will inadver
tently overlook the con
cerns that the patient ini
tially presented. If this
happens, the patient may
become less cooperative,
even feeling that the doc
tor is avoiding what the
patient feels is the real
issue.
In my coaching relation
ships, I like to dig below
Assessing Your
Leadership Skills
-SBS/person
▲it
UM
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dhooper2@juno.com
the obvious problems and
help the client understand
and improve underlying
issues. But sometimes a
client will show up at a
session having done no
prework, expecting me to
carry the dialogue.
Since I understand the
long-term desires of the
client, I can usually offer
some thoughts that con
tribute beneficially to the
efforts of the individual.
But those sessions usually
result in less progress for
the client than those
where the individual
comes in well prepared
with a specific need.
I find that in responding
to the expressed needs of
a client, we’ll “spring
board” to other topics
that are of deep interest
to the individual. But we
may have never gotten
there, had the individual
not first proposed the ini
tial topic for dialogue.
Typically in my coach
ing relationships, I have
one to three contacts with
an individual each month.
Usually some accountabil
ity was identified at the
previous appointment, so
the client has prepared to
report on progress made
during the intervening
period. If no specific com
mitments were made, the
client will gain more by
identifying some current
need, situation, or desired
outcome. That way, we
continue to work on the
client’s agenda, not mine.
Just as a doctor has
plenty of knowledge that
may not be of interest to a
patient, a coach or con
sultant has extensive
experience that not every
client will want to hear.
Be protective of the time
you spend with your
coach. Make your situa
tion and desired outcomes
clear each time you meet,
so that your coach can
offer options and explore
possibilities that are rele
vant to the circumstances
you face.
F. Dennis Hooper
Certified
Leadership Development Coach
Building leaders and
organizations of excellence
(478) 988-0237 dhooper2@juno.com
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