Keeping Moraine Park Strong Retirement Assets
Don and Ann Charleston believe strongly in the power of education to transform students, families, and communities. They also use an Individual Retirement Account (IRA) Qualified Charitable Distribution (QCD) to make significant gifts to support Moraine Park students.
Don earned his degree in mechanical drafting in 1974 and went on to enjoy a long and successful career at Caterpillar that spanned 30 years. He has traveled all over the United States and internationally to places like Russia and China. He never stopped challenging himself to learn new trades and experience new things. Moraine Park played a large part of that mindset.
Since 2016, the Charlestons have helped many students afford a Moraine Park education. Their spirit of giving and visionary leadership will continue to have a lasting impact for generations to come.
"I owe my career success to the education and experiences I received from Moraine Park," Don Charleston, an alumnus and scholarship donor at Moraine Park said. "Ann and I want to give back and help students in need. The charitable rollover provided a way for us to create two named scholarships and make a significant impact."
In retirement, the IRS implements a required minimum distribution (RMD) from your IRA each year, whether you need the funds or not. You are required to pay income tax on the distributions you take. However, if you direct a portion of your RMD as a charitable gift to the Moraine Park Foundation, you may significantly reduce your tax burden*.
If you are interested in creating a legacy to benefit Moraine Park students, contact us.
*IRS limitations apply. Please consult your professional advisor to discuss your specific situation.