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Reduce Your Taxes with IRA Rollover Gift

Reduce Your Taxes with IRA Rollover Gift

Kendall and Eleanor Bryan are long time, generous supporters of Pine Castle. They recently shared why they were inspired to get involved and invest in the programs that help so many adults with IDD at Pine Castle.

When Kendall and his bride Eleanor moved back to Jacksonville in the early 70's, he went to work for the family business - Independent Life and Accident Insurance Co. His father was CEO at the time and encouraged his three sons, including Kendall, to get involved in the community. According to Kendall, "Do unto others" was a key value of the Bryan family. At the time, he was a "Loaned Executive" for United Way and visited the Pine Castle campus. Recalling that at the time the programs were mostly for children, he was very impressed with the opportunities Pine Castle made available to kids who otherwise would not have had the education and training they received there.

Kendall and Eleanor, like most couples with children, had a full plate after that, raising four children and seeing that they also got the opportunities for a good education in Jacksonville and college after. So, once their children were launched, they turned their attention to carrying on their family's legacy of giving. Since then, Pine Castle has been a proud beneficiary of their support for nearly twenty years.

Eleanor shared that she was happy to have visited the Pine Castle campus last year for the 70 th Anniversary celebration. She was most impressed with the new kitchen and dining facilities which fill many needs on the campus including job training and experience for program participants. Kendall added that their family has always been most attracted to supporting organizations that "do good work by helping others help themselves" which he felt was Pine Castle's greatest strength. Looking back over 70 plus years serving the greater Jacksonville community, Pine Castle has, in Eleanor's words, "stood the test of time."

Kendall and Eleanor have found a very appropriate way to give their generous support in recent years using the annual required distribution from their IRA account. Called a "Qualified Charitable Distribution" by the IRS, this method of donating to Pine Castle was a new concept for Kendall. When my financial advisor let me know that I had reached the age to start withdrawing funds, thankfully, he also informed me I could make it as a direct charitable donation and fulfill the Required Minimum Distribution regulation. Since I didn't receive the funds as income and then write a check to Pine Castle-the money went directly from my IRA to Pine Castle and that amount would not be counted as taxable income.

This saved us on taxes since I didn't receive the funds as income and then write a check to Pine Castle - the money went directly to them from my IRA and was not counted as taxable income. That way we could give more and save on taxes too!"

Eleanor and Kendall are committed to investing in the work of Pine Castle and those we serve, helping our participants "live to their fullest potential." Their generous gifts of support carry on the heartfelt legacy of the Bryan family as they continue to "do unto others" in partnership with Pine Castle and its many supporters in our community.


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