The following story originally appeared in Cobb Community Foundation’s 2022 Impact Report.
On September 19, we received word that one of our fundholders, Robert Neisler, had passed away. Mr. Neisler was originally a client of Morris Henderson, founding partner of The Keystone Financial Alliance. It is not uncommon for fundholders referred to Cobb Community Foundation by a financial advisor to communicate their wishes through that advisor, as was the case for Mr. Neisler. As a result, our team never had the opportunity to know him personally.
What was very clear, however, was that Robert Neisler stewarded his resources thoughtfully and generously. His focus was always on serving others — his family, his customers, and his community. According to Morris Henderson, Mr. Neisler was especially intentional about ensuring that his giving was structured in the way that would be most meaningful and beneficial to those receiving it.
For years, Mr. Neisler and Henderson discussed the plans that would eventually become a reality when the Brake-O Brake Centers he owned were sold. That liquidity event created the opportunity to both simplify and maximize his charitable giving, and the timing was finally right to establish a donor advised fund. At the time, Henderson was serving as Board Chair of Cobb Community Foundation and had become deeply familiar with the unique benefits of partnering with a community foundation.
Mr. Neisler was fascinated by the ability to donate appreciated stock and receive a charitable deduction based on its fair market value, regardless of embedded capital gains. Over the years, every contribution to The Neisler Family Fund was made through stock gifts specifically recommended by The Keystone Financial Alliance for maximum tax advantage. Through those contributions, The Neisler Family Fund supported both local and national organizations aligned with the family’s values.
Cobb Community Foundation donor advised fund agreements provide fundholders with significant flexibility in determining how remaining assets should be managed after their lifetime. Successors may be named to advise future grants, specific organizations or causes can be designated as beneficiaries, or fundholders may choose to allow the Foundation to direct future grants based on the community’s evolving needs. In this case, Mr. Neisler entrusted the Foundation with that responsibility.
Mr. Neisler’s generosity did not end there — nor did Henderson’s guidance. Financial advisors understand that retirement assets are often among the most heavily taxed assets an individual can inherit. Depending on the size of the estate, those assets may be subject to both estate and income taxes. When a charitable organization is named as beneficiary, however, those taxes can be avoided entirely. Retirement assets may ultimately be worth as little as 45 cents on the dollar to an individual beneficiary, but 100 cents on the dollar to a charitable organization. With this in mind, Mr. Neisler named Cobb Community Foundation as beneficiary of his IRA.
As a result of Mr. Neisler’s generosity, significantly more grants were awarded in 2022 than originally anticipated, and his legacy of giving will continue for years to come wherever the needs are greatest. Mr. Neisler lived his legacy during his lifetime and ensured that it would continue long after.
We are deeply grateful to Robert Neisler for his generosity, to Morris Henderson and the team at The Keystone Financial Alliance for their thoughtful guidance, and to the Neisler family for allowing us to share this story.
