Harfield Hole - Invests in Kids
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“I have renters who are single parents raising their kids,” Harfield Hole (88) told me. “One is a single father and the other is a single mother. They can’t afford child care. The Club has been part of their kids’ day. It’s a place where they can go with things to do instead of being on the street or watching television,” he said.

Harfield watched the Orchard Clubhouse being built in 1985 and over the years saw his renters’ children become members and grow through the Club. “The Club’s been good for the Southside,” noted Harfield.

That’s why Harfield came to me at the Boys & Girls Clubs Endowment Foundation with questions about gifting one of his rental properties. After talking about Harfield’s desire to avoid paying capital gains on the property he would gift, and verifying that there were no mortgages, we decided to establish a charitable remainder trust. Harfield also wanted to cont inue to receive an income.


The charitable remainder trust that Harfield established provides that Harfield will receive 9% of the trust’s net fair market value each year during his lifetime.

As trustee, Harfield is still in control of the sale of his property and will handle the investments according to the written trust document.

Since Harfield’s rental property was donated to a charitable trust, he is receiving an income tax deduction that will reduce his taxes this year (and perhaps in subsequent years). Harfield’s gift also qualifies for a $10,000 Montana Tax Credit for Endowed Philanthropy.