After returning from military duty in 1968, Curtis Krock joined the Holt Krock Clinic in Arkansas. There, he spent the next four years working alongside his father, a general surgeon.
"I began to inherit his patients and their problems," Dr. Krock explains. "I was totally overloaded with patients and a jack of all trades." He was ready for a change.
Dr. Krock wanted to pursue his medical specialty - pulmonary medicine. In 1972, after looking at four or five options, Dr. Krock toured Carle. At that time, the clinic had 72 doctors and only four floors. Even then, it was a good size clinic, he remembers.
"I was most favorably impressed with the people I met in the organization," Dr. Krock adds, "a judgment which time confirmed fully!" Dr. Krock credits the opportunity to work alongside Dr. John Houseworth, the only Carle pulmonologist at the time, and the leadership of Dr. John Pollard as driving forces in his decision to join Carle. But most important, at Carle, Dr. Krock could focus on pulmonary medicine.
As his employer for nearly 30 years, Carle became one of the most important influences in Dr. Krock's life. "I've always felt that I should give something back, but I wasn't sure where the resources were needed," he explains.
Then came the announcement of Carle's plans to build a new medical tower anchored by the Carle Heart and Vascular Institute. Dr. Krock saw exactly where his resources could help. He decided to use stock to create a Charitable Gift Annuity.
With relatively low minimum funding amounts and a simple contract to sign, gift annuities are the easiest and most popular life income gifts to make. The simplicity of gift annuities helps the donor and the charity avoid significant legal fees.
Dr. Krock simply transferred appreciated stock to The Carle Development Foundation. In return, Carle pays him a fixed income for life at a rate based on his age. His payment amount will never change and is backed by Carle's assets making it a reliable source of income for his future.
"This was a very good way of giving for me," Dr. Krock says, noting that the practical issues related to this gift vehicle were most appealing. First, he avoided capital gains. Second, he received a good rate of return with an acceptable level of risk.
In addition to helping Carle build a new facility, Dr. Krock's gift qualifies him for membership in the Margaret Carle Morris Society, a legacy program reserved for those who have made a gift to Carle through their estate plan.