IRA Charitable Rollover a 'Win-Win'

Chris and Jim Scanlon

Chris and Jim Scanlon

For retirees Jim ’53 and Chris Scanlon, giving to Gonzaga from their IRAs allows them to support a school they love while fulfilling their financial goals.

“Eye Street has been our home for as long as I can remember,” says Jim, whose father went to St. Aloysius Grade School and whose two brothers, Dan ’42 and Jack ’47, are also proud Gonzaga graduates. Jim’s son, Michael, graduated from Gonzaga in 1988 and his grandson, Finn, is currently a junior.

“We love coming down for Finn’s lacrosse games,” says Chris. “We try to make every home game.”

In the 1990s, Jim was the head of the Peace Corps in the West Indies, and was stationed in St. Lucia. On two occasions, he and Chris hosted the Gonzaga basketball team on service trips, organizing opportunities for the players to teach basketball and life skills to local children.

“The lessons and values we learned from Gonzaga were real and sustained us and our families throughout our lives,” says Jim.

“Because of our deep connections and because we’ve seen time and again the difference a Gonzaga education makes in a boy’s life, Jim and I support the school’s mission the best we can,” says Chris.

For them, that means making a gift to Gonzaga using the required minimum distribution from an IRA. “The IRA charitable rollover law is now permanent, which means our gift to Gonzaga counts toward our minimum distributions and is not considered taxable income,” says Chris.

“It’s a win-win for us and for Gonzaga,” says Jim.

If you would like to learn more about making a gift to Gonzaga using your IRA, please contact Daniel P. Costello ’72 at (202) 336-7174 or dcostell@gonzaga.org.

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