John & Penny Porter: Creating a… | South Dakota Community Foundation

John & Penny Porter: Creating a Charitable Legacy through a Gift Annuity

April 15, 2024 // Donors, Estate Planning

Creating a Charitable Legacy through a Gift Annuity Planned Giving

John and Penny Porter grew up in the Pierre and Fort Pierre area. Their roots run deep near the Missouri River in central South Dakota. “We met in high school and are still dating and married for 55-plus years,” said Penny.

John retired from Avera Health as President & CEO in 2019, and they currently reside in Sioux Falls. The Porters have supported SDCF in multiple ways. John served as SDCF Board Member and Chair, and Penny has served as an Advisory Council member on the Fairy Godmother's fund for many years.

“Over my years working with SDCF, I realized it’s a pretty low cost, highly sophisticated organization that really can give a lot bigger bang for the buck,” said John. “SDCF allows individuals to carry out their charitable goals. That could include supporting education, healthcare or city/community infrastructure. This is a tool that any one of us in this state can use.”

The Porters established a charitable gift annuity with SDCF to ultimately fund their designated fund held with SDCF. A charitable gift annuity is a gift made to a nonprofit that can provide the donor with a secure source of fixed payments for life as well as a tax benefit up front.

“We’ve always tried to instill in our children that we are so grateful and so blessed that you give back,” said Penny. “We’ve tried to be an example and a tool for them.”

Benefits of a charitable gift annuity:

• Receive fixed payments to you and/or another annuitant you designate for life

• Receive a charitable income tax deduction for the charitable gift portion of the annuity

• Benefit from payments that may be partially tax-free or taxed at lower rates

• Further the charitable work of SDCF with your gift

Learn more about planned giving options.

SDCF is honored to partner with the Porters in creating a long-term funding source for many charitable causes they care about. Learn how you can create your charitable legacy.

SDCF Planned Giving Site