Office of Estate & Gift Planning
UF is Where Their Stories Began
It started as a graduate student romance at UF in the 1960s. Joe Rosko (BS '62, ME '64, PhD '66) was studying electrical engineering when he met Louise L. Sutton (BAE '64, MSE '65).
The couple just clicked. After graduation, they married and moved north. She worked while he earned his MBA, and he returned the favor while she earned her law degree.
Joe had a great career at United Aircraft, then at Pratt and Whitney jet engine company. Meanwhile, Louise practiced corporate law in Hartford, Connecticut. After just 11 years of marriage, Joe was diagnosed with cancer and passed away.
"He has always been very close to my heart," says Louise, who lives near London with her second husband, a retired engineer. To honor Joe's memory and help other engineering students at UF, she created a scholarship with her IRA charitable rollover disbursements. This method reduces Louise's income taxes since her donation to UF from her IRA is excluded from her gross income.
"I believe in supporting young people. Joe did, too," Louise says. "My husband encouraged me to do this for Joe. This will help students who have the brains and the work ethic, but not the money." I would have created this scholarship anyhow, but this is a tax-efficient way to do it."
How It Works
IRA charitable rollover: Individuals 70½ or older can make a gift of any amount, up to $100,000 each year, directly from their IRA without paying taxes on the distribution as taxable income. Also, when you name the University of Florida Foundation as the beneficiary of a portion of your retirement plan assets, you don't part with assets today and you protect your loved ones from taxes later.
Give Back to UF
Learn more about all the ways you can give to UF that also honor someone close to you by contacting UF's Office of Estate & Gift Planning at giftplanning@uff.ufl.edu, 352-392-5512, toll free at 866-317-4143 or visit our website to get started.
The University of Florida Foundation is not affiliated with, and does not provide, endorsements for professional advisors. Information contained herein was accurate at the time of posting. 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 any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Charitable Gift Annuities may not be available in all states.Privacy Policy | Cookie Policy