Mike Corboy knows a good business deal when he sees one.
A long-time employee of Texas Instruments, leader of high-tech companies and innovator of several successful ventures, Mike has enjoyed an accomplished business career.
He also is a loyal supporter of St. Jude Children’s Research Hospital. His annual donations to St. Jude are made by giving the gift of stocks. “It’s just a great way to give money to worthy causes,” he said.
Mike and his wife Lou Ann became involved with St. Jude through their friend and neighbor, a St. Jude board member. After a visit to the St. Jude campus in Memphis, Tenn., Mike and Lou Ann began to include St. Jude in their regular philanthropic giving.
"It’s unique to the world,” he said of St. Jude.
Now semi-retired and involved in inner-city education initiatives in Dallas, Mike finds that making gifts using long-held stock that has increased in value is a wonderful way to benefit the kids of St. Jude.
It’s a win-win situation. We help St. Jude, avoid the capital gains tax that we would owe if we had sold the stock ourselves, and receive an income tax deduction for the value of the full stock. It’s a simple and effective way to give a gift and, more importantly, make a difference to the kids at St. Jude.