Leveraging the Dunwoody Dream by Sharing Yours
Gordy Groseth, '56 electrical construction, never imagined the doors that would be opened by his Dunwoody education. His upbringing near Lake Superior prepared him well for his Dunwoody education and subsequent career in electronics at AT&T, Northwestern Bell, and US West.
Since retiring, Gordy and his wife, Carol, have been busy with their church, hobbies, and love of national and international travel, including traveling for many years to Sun City, Arizona, each winter. They attended a retirement planning program several years ago featuring a man who had a car dealership he wanted to sell and the program highlighted the tax benefits he would receive by establishing a Charitable Remainder Annuity Trust (CRAT). "This got my wheels turning, as we owned northern Minnesota real estate, and we wanted to evaluate our tax options and also benefit some organizations that are meaningful to us. I learned more about the benefits of a CRAT, and Carol and I decided to establish one to benefit Dunwoody and two other entities," says Gordy.
By establishing the CRAT, Gordy and Carol avoided capital gains on the property donation and received a tax deduction. They also receive annual, quarterly income payments. The trust terminates at the end of their lives and the amount remaining in the trust will benefit Dunwoody and two other designated entities.
The Groseth's legacy gift, like those of other Dunwoody donors, help pay the great philanthropic legacy of William and Kate Dunwoody forward to ensure students from all backgrounds have access to the well-paying, high-demand careers a technical education makes possible.
As always, Dunwoody's Institutional Advancement team welcomes the opportunity to discuss your interests and how you can help benefit Dunwoody with your legacy planning through a CRAT or other gift planning options.