APT employees donate more than $680,000 to Community Foundation
Stuart Obermann is CEO/President of the Community Foundation of Huntsville/Madison County. (CONTRIBUTED)
MADISON COUNTY – A-P-T Research Inc. employees have donated more than $680,000 to the Community Foundation of Huntsville/Madison County.
On Nov. 19, A-P-T Research Inc. (APT) completed a transaction to become a 100-percent employee-owned company through their Employee Stock Ownership Plan.
“This transaction created significant capital gains for many participating shareholders,” Community Foundation CEO/President Stuart Obermann said.
“Working with the Community Foundation, employees were given the option to donate appreciated shares with low-cost basis to the Community Foundation. (The donations) provided them with significant tax advantages while providing an opportunity to support the community through philanthropy,” Obermann said.
APT President Tom Pfitzer said he is proud that employees are continuing the tradition to give back to the community. “Eleven of our employee shareholders have committed over $680,000 to charity in various forms, and the Community Foundation helped us devise the most flexible and tax-efficient means for us to make these charitable gifts,” Pfitzer said.
In addition, APT created a new corporate giving fund, which will allow the company and their employees to contribute tax-deductible dollars into a charitable fund that can be used later for making grants to local nonprofit agencies.
The Community Foundation serves as the trustee of the community’s future, fostering philanthropy and mobilizing partners, while striving for an exceptional quality of life both today and tomorrow. In operation for six years, the foundation has raised or managed more than $14 million in donations and has distributed more than $3.6 million to nonprofit agencies, churches and schools.
Incorporated in 1990, APT employs experienced engineers that lead project areas, policies and procedures that support diverse aspects of contracting and administration.
For more information about the Community Foundation, call Obermann at 256-535-2065, email to stuart@communityfoundationhsv.org or visit communityfoundationhsv.org.
For more information about APT, visit apt-research.com.
