Randy Moore ’61 Establishes Charitable Remainder Trust to Support Swarthmore’s Continued Excellence
Randy Moore has established
a charitable remainder trust
to benefit Swarthmore College.
Before college, the farthest east Hawaii-native Randy Moore ’61 had travelled was Cheyenne, Wyoming, making Pennsylvania seem very far from home. Still, encouraged by his mother and high school educators, Moore gave Swarthmore a try. Now, because of the benefits of that decision, he has established a charitable remainder trust (CRT) to give future students the same educational opportunity.
“One of the nice things about a charitable remainder trust is that you really don’t give up any income,” says Moore, who returned to Hawaii for a business career after earning a Stanford MBA. “It’s an opportunity to do good for the school, and you get a tax deduction and continuing income. It’s a win, win, win all around.”
Moore created his CRT with highly appreciated real estate, thereby avoiding taxes on sizable capital gain. Swarthmore, as a tax-exempt entity, also avoids taxes when selling the property, enabling the full value of the contribution to generate future income.
A one-time college athlete and mathematics major, Moore is encouraged by the progress Swarthmore has made toward greater inclusion.
“I like the change in the College’s student demographics since I was there,” he says. “I’m fortunate to have the means to be able to make this kind of gift.”
He urges fellow alumni to consider doing likewise.
“If you got something out of a Swarthmore education and your resources can help extend that opportunity to other people, particularity other people whose parents might not be able to afford it, to me, that’s really the key.”
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