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Making a planned gift is a wonderful way to show your support and appreciation for George Mason University and its mission while accommodating your own personal, financial, estate-planning, and philanthropic goals.
Colonel Tom Johnson Creates Two Scholarships with IRA Charitable Rollover Gifts
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Colonel Tom Johnson, USMCR (Retired), did not attend George Mason University, but two of his daughters, Molly and Melissa, did. “They received tremendous academic training in their fields combined with practical professional experience through internships, practicums, and graduate assistantships,” says Tom, who has created two scholarships to support future Patriots.
Working with Mason’s director of advancement for University Life, Kaitlin Cicchetti, Tom chose to fund his gifts through qualified charitable distributions (QCDs) from traditional IRAs.
“This gift vehicle was the most convenient, efficient, speedy, simple, and cost-free,” he says. Gifts from QCDs (“IRA charitable rollovers”) can be excluded from gross income for tax purposes and can count toward required minimum distributions.
“I loved being a student and later doing some teaching,” Tom says. “So, I wanted to help others have a good college experience with a little less financial stress than would otherwise be the case.”
A scholarship in the College of Education and Human Development honors Tom’s father, who was president of a teacher’s college, and a scholarship in University Life is named for Tom and his family. Both scholarships are for veterans and express a preference for Marines or for Navy Hospital Corpsmen who served with the Marines.
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“In a small way, I hope to supplement the many ways that Mason welcomes and supports veterans,” Tom says. “The GI Bill helps them but has gaps that I wanted to help cover.”
Now retired after a 35-year career with the U.S. Department of State, Tom remains connected to the school as a member of the Parent and Family Council and by participating in orientation and other Mason family programs.
Tom encourages others to consider the legacies they could leave to support future students. “Think about Mason’s heavily first-generation student body that faces many challenges and works so hard on and off campus,” he concludes. “And think about the veterans, who deserve whatever assistance we can give them.”
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