Alumnus Makes Large Charitable Gift Using His IRA
The School of Science, Engineering and Technology at St. Mary's University recently received $1 million in donations from alumni David Biegler '68 and Jack Biegler '67.
A gift of $500,000 by David and his wife, Diane Knape, will enhance laboratories and buildings. Jack donated $500,000 to be used for student scholarships.
"Each of us wants to make a difference in this world," David says.
"St. Mary's University did that for me by showing the way and then enabling a college education. I want to make the same difference in the lives of those who follow. The opportunity to make this gift makes that possible for me."
David is retired after a long career in the energy industry and continues to serve as a director of several public and not-for-profit entities. He is currently a member of the St. Mary's Board of Trustees.
In 1996, David, Jack and Walter Biegler '68, and their sister, Joyce Biegler Russell, established a scholarship endowment at St. Mary's in memory of their parents. The Joe and Lucille Biegler Scholarship Fund is aimed at dependents of San Antonio Fire Department employees. The three brothers graduated from Central Catholic High School in San Antonio.
David's gift will be funded through his IRA to help fulfill his required minimum distributions, which start in 2018. "Congress passed a law a few years ago allowing donors to give charities $100,000 per year from their IRAs, and we've had a lot of interest from donors making large gifts like Mr. Biegler and smaller gifts, too," says Rick Kimbrough, Vice President for University Advancement.
Learn more about funding a gift through an IRA that benefits St. Mary’s students in many ways. Contact Rick Kimbrough at 210-436-3138 or firstname.lastname@example.org for more information.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.