Jan and Tom Hodson have supported the people and communities of Appalachian Ohio for years through contributions to the Foundation for Appalachian Ohio’s scholarship program. With a gift to FAO’s I’m a Child of Appalachia® Fund through an IRA charitable rollover, the pair was able to continue their support for the region they call home.
During the ’50s and ’60s, Jan spent her childhood in Glouster in Athens County. It was her experiences growing up in the region that instilled a lifelong passion for supporting the children of Appalachian Ohio and motivated her to give to the I’m a Child of Appalachia® Fund.
“As a child, I sensed that there was something a little bit different about where I was growing up,” Jan said, referring to her upbringing in Glouster. “Now, as an adult, my heart is dedicated to helping children in this area understand that they can have a future, and that opportunities do exist for them. That’s what drew me and Tom to give to the I’m a Child of Appalachia® Fund.”
The I’m a Child of Appalachia® Fund works to meet the most pressing needs and promising opportunities for Appalachian Ohio’s people and communities. The need for permanent, philanthropic resources that are available to meet immediate and changing needs has never been more evident.
So many children and young adults in this area equate being economically disadvantaged with being less than, and they believe that they just aren’t up to the same caliber as others. If there is anything we can do that gives those young people the opportunity to see that they are just as good and smart and worthy, then we want to do that. A gift to the I’m a Child of Appalachia® Fund has allowed us to help children access opportunities they might not otherwise have had and help children have positive experiences and develop a more positive self-image.
Jan and Tom were able to support the I’m a Child of Appalachia® Fund with a gift through their IRAs. Individuals 70 ½ or older are able to direct up to $100,000* from their IRA to support charitable causes while paying zero taxes on the amount transferred. These charitable gifts also count toward an IRA’s required minimum distribution – the amount that individuals 72 or older are typically required to withdraw from their IRA annually.
While Jan and Tom have a long history of charitable giving, their IRAs’ required minimum distribution was one reason they chose to make their gift to the I’m a Child of Appalachia® Fund through IRA transfer.
“I’m of the age that I had to start taking distributions from my IRA,” said Tom. “I could either transfer funds for myself and have to pay taxes on them, or I could allocate the funds as charitable gifts and not have to pay income tax on the money. To me it was a no brainer to think that we could help people in our region directly and at the same time save ourselves a tax burden.”
Jan and Tom encourage others to consider the option of an IRA transfer for their charitable giving, and to consider a gift to the I’m a Child of Appalachia® Fund as well.
“When I was in third grade in Glouster Elementary, I found that I couldn’t see what was being written on the board in class,” Jan said. “I started performing worse in school, and I failed tests and assignments. As a child, I didn’t realize that the issue was related to my vision. For all I knew, everyone was seeing the same way I was seeing. But my teacher mentioned it to my parents, and I was lucky that my parents had enough resources to take me to the optometrist in Athens, and I got glasses. Those glasses made such a big difference to my academic work. But I think about all the children who don’t have those resources, and how difficult it is to learn when you don’t have access to needed vision care. That’s why I was so excited to learn that FAO was pursuing a partnership with Vision To Learn through the I’m a Child of Appalachia® Fund that would connect children in Appalachian Ohio with vision care.”
To support a variety of initiatives that foster positive mindsets and pursue the greatest needs and most promising opportunities throughout our communities, make a gift to the I’m a Child of Appalachia® Fund today.
Gifts can be made in many ways, including through cash, bequests and life insurance. To give through an IRA transfer, contact your IRA administrator. Because of the popularity of the IRA charitable rollover, most administrators provide forms and a procedure to help you make a rollover gift easily.
As Tom put it, “Especially during times of uncertainty like we’re in now, we all have to look at ways of giving outside of ourselves and how we can help our communities. We have to help each other, and now is the time.”
* This amount was current as time of writing. Please contact your tax professional for current guidelines.