Larry Kramer missed his opportunity to earn a college degree. Although he excelled as a student and graduated from Oklahoma City’s U.S. Grant High School in 1959, his college career was cut short. With no access to scholarships to help pay for his education, he soon began working full time to support his young family.
“My parents never attended college, so there was no discussion or expectation for me to go to college,” Larry said.
After retiring from a successful career in the transportation and automotive industry, Larry was looking for a way to give back. In 2017, Larry worked with the Oklahoma City Community Foundation to use the IRA Charitable Rollover to establish a scholarship for minority women graduating from his alma mater, ensuring others do not miss their chance to attend college.
Give More For Less with an IRA Charitable Rollover
If you are age 70 ½ or older, you can gift up to $100,000 per year directly from your IRA to the Oklahoma City Community Foundation to support or create a new scholarship fund or a charitable organization endowment fund. By using your pre-tax IRA assets, your charitable gift costs you less. IRA Rollover gifts made by Dec. 31, 2018, can be used to meet your required minimum distribution for tax year 2019 and are not subject to income taxes. Learn more at occf.org/site/ira or contact Joe Carter at 405/606-2914.