For Jim and Mary Taylor, local philanthropy has long been a way of life. The evidence was on display again this week when the Taylors presented seven area nonprofit organizations with a gift of $20,000 each through a donor-advised fund administered by the Kernersville Foundation.

“We have been so blessed by our Lord and Savior Jesus Christ,” Jim Taylor told a room full of nonprofit leaders gathered Monday at the Kernersville Auto Museum he founded. “The more we give, it seems like the more we’re able to give. This is not about Jim and Mary.”

Faith was a common thread through each of the recipients, which include The Shepherd’s Center, Crisis Control Ministry, Next Step Ministries, Second Harvest Food Bank, The Salvation Army, HASTEN International Medical Missions, and the North Carolina School of Biblical Studies.

While the ceremony celebrated the donations, organizers from the Kernersville Foundation also saw it as an opportunity to educate the community about donor-advised funds and how they can become a powerful tool for charitable giving. 

“Jim could have done this individually and gone to each organization himself,” said Bruce Boyer, the foundation’s executive director. “But he wanted to see the Kernersville Foundation grow as well.”

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Boyer separately explained to Scope News that a donor-advised fund allows individuals to contribute appreciated assets, such as property or stock, into a charitable account that receives an immediate tax reduction while avoiding capital gains taxes. The funds can be distributed over time to nonprofits of the donor’s choosing.

For the Taylors, this opportunity arose after selling some property in the area.

Boyer noted that the flexibility of these funds can make them especially beneficial during years in which someone experiences a significant increase in income through the sale of real estate, a business, or other appreciated asset. 

And unlike a private foundation, donor-advised funds do not require donors to create and administer a separate nonprofit entity or comply with ongoing IRS reporting requirements. 

Taylor said the event also reflected a desire to see the impact of his giving during his lifetime.

“When I retired in 2000, I wanted to start a foundation,” he said. “Mary and I put in the first money to get it started. Other than our church work, it’s been one of the best things we’ve ever done. We’ve been able to help so many people individually as well as through organizations like the ones here today. We get more out of it than you do.”

Representatives from each organization shared a brief overview of their work and how the donations will strengthen their missions. 

Mayor Dawn Morgan praised both the organizations and the Taylor family, stating that nonprofits and volunteers provide services that local governments often cannot provide alone.

Those interested in learning more about establishing a donor-advised fund through the Kernersville Foundation can contact Treasurer Dona Neal at 336-317-2895 or any financial adviser.

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