Gift Planning

Don Roehm’s Estate Gives IRA to Help Colgate Soccer and Colgate Athletics

Photo of Don Roehm

MacDonell “Don” Roehm Jr. ’61 earned All-American honors for his skill as a Colgate soccer fullback, and after graduation he went on to a successful career in business. His passion for Colgate athletics was enshrined in a $4 million endowment bequest funded with his IRA that he and his wife, Nedra, established during his 50th Reunion in 2011.

“Colgate was the only charitable institution where Don made known his intentions because he knew Colgate stewards its donors well, and the school could plan ahead,” said Paul D. Meyer, Don’s attorney, who worked closely with Colgate’s Planned Giving team.

With Roehm’s passing this past April, his gift has been realized—benefiting the University’s student-athletes and showing Colgate supporters the value of giving from retirement assets.

Income from the Roehm endowment is immediately being used to transform a pair of part-time assistant soccer coaching positions—one each for men’s and women’s soccer—into full-time posts. The endowment will eventually help support mental health and performance services for all student-athletes.

“The endowment will lead to a culture of consistent success on and off the field,” said Erik Ronning ’97, John W. Beyer head coach of men’s soccer. “Don was a true gentleman and Colgate soccer legend.”

Don established a number of charitable gifts through his estate, but he designated his entire IRA to Colgate because the IRA was at the level he wanted to give. But there were other benefits.

“When someone wants to benefit a charity, it is always more advantageous to name the charity as beneficiary of the IRA. The charity never pays the income tax embedded in the IRA, which was very attractive to Don,” explained Paul Meyer. “By having only Colgate in the IRA, Nedra could easily disclaim the IRA so that Don’s gift could be used now by Colgate.”

Nicki Moore, Colgate vice president and director of athletics, said that “we have been blown away by the generosity of Mr. and Mrs. Roehm. This gift should inspire us all.”

The discussion herein is general in nature and may not apply to all individuals. Prospective donors are urged to consult their personal tax and financial advisors concerning the specific consequences of making gifts to Colgate. We would be pleased to discuss, in confidence, ways in which you may support Colgate. These measures may also have an impact on your estate planning.