'It's Just Pure Magic'
Business Owners Bolster Conservation Efforts at Flathead Lake Biological Station
September 5, 2024
Stew and Meg Weis moved from Chicago to Montana more than three decades ago, determined to carry on their families’ legacy in the hardware business. They not only achieved their goal; they developed a deep connection with the state’s natural beauty and community – and a desire to give back.
When the Weises relocated to Missoula in 1993 to purchase an Ace Hardware store, Stew’s family had owned hardware stores in Chicago for three generations, and Meg’s father had five Ace stores in St. Louis. The couple, who met at an Ace dealers’ conference and celebrated their 36th anniversary this year, were successful in continuing this legacy in Missoula.
Five years after moving to Montana, the Weises experienced Flathead Lake for the first time while visiting friends. Impressed by its beauty, they purchased a lakeside property – a decision that would ultimately be the catalyst for their philanthropy.
“We’ve gained an intimate understanding of how special this place is,” Stew said. “It’s just pure magic.”
Soon after, the Weises learned about the Flathead Lake Biological Station and its mission to advance research, monitoring, education, and serve as an outreach platform for the lake and its watershed’s ecology. Living near the lake fueled their dedication to this mission, and they chose to support the bio station through annual gifts.
The Weises’ giving promotes year-round monitoring of Flathead Lake, student opportunities, and research at FLBS helping ensure residents and visitors live and recreate in a healthy, sustainable environment where policymakers make informed decisions. Their donations bolster the bio station’s work to maintain world-renowned water quality and healthy aquatic ecosystems, both of which are rare, priceless public resources and primary drivers of the region’s economy.
“FLBS serves a vital function for anybody who cares about the longevity of this gorgeous lake,” said Meg. “We want to help preserve Flathead Lake as the jewel of northwest Montana for future generations.”
More recently, the Weises learned from a friend about the Qualified Endowment Credit, which allows them to structure their giving in a way that qualifies for a generous Montana state tax credit of up to $30,000 per couple. The tax credit intrigued them as their business profits – and tax expenses – grew.
“Our revenue ramped up year after year, and suddenly we found ourselves in a predicament, paying painfully large amounts of taxes,” Stew said.
The Qualified Endowment Credit offered a solution that gave them a dollar-for-dollar reduction of their Montana state tax liability. The tax savings allowed them to significantly increase the size of their gifts and strengthen the endowments supporting the station.
“At first, we thought the tax credit was too good to be true,” Stew said. “But our CPA agreed it was a smart approach and handled all the details. Once we decided to give in this way, the staff at the UM Foundation made it easy to execute. The tax credit is a whole different animal than simple tax deductions, which just lower your taxable income.”
Stew reflected that giving in this way is rewarding because it enables the Weises to witness the immediate impact of their support.
“We get to enjoy the benefits of our generosity while we’re still here,” he said.