Crader and Family Put Donor Advised Funds to Work
The donor advised fund is a unique program for charitable planning allowing donors to establish an account while enjoying several benefits not available through other types of donations.
"The donor advised fund enables people to make a contribution now and direct the contribution to other charities in the future," says Crader, a four-year member of the University Foundation. "Donations can go to sports programs, theatre, scholarships or wherever you want your money to go. A common misconception about the donor advised fund is that you are essentially committing ‘x' number of dollars to the University. You don't have to make a donation directly to the University, just to a program or area associated with the University. You can also make grants to other charities outside the University.
"You can finance your fund in a number of different ways, including cash, appreciated stock or real estate, among others," says Crader.
Crader will be publishing a novel in the near future, with the proceeds going to his family's donor advised fund. Through his fund, a portion of his donation will sponsor a series of lectures on the American Founding Fathers through Southeast's Department of History.
One of the biggest selling points for Crader was the fund's ability to encourage family participation in philanthropy. Children and grandchildren can be named on the fund and therefore participate in the decision of how to use funds.
Crader says the University Foundation was extremely helpful in providing him with all the materials he needed to learn about the fund and how to set one up. It also provided him with information regarding the different areas and programs to which funds can be distributed at Southeast.
Crader and his family have supported the University for some time and in several different areas. In addition to the lectures he will sponsor through the Department of History, he has also donated to purchase various equipment for the University and River Campus as well as having a faculty office at the River Campus named in his mother's honor. He is also a member of the Booster Club.
The remarkable thing about Crader's generosity to the University is that neither he nor his wife attended Southeast.
"With the cost of education steadily increasing and government support decreasing, student costs are going up. It's important that, as a country, we provide higher education at costs that allows students to attain one. We have to make money available for students to take some of the financial burden off them."
Crader is president of Crader Distributing Company (CDC), a wholesale distributor of STIHL Outdoor Power Equipment.
To learn more about how you can make a difference to Southeast through donor advised funds, contact us at 573.651.5935 or 888.812.3769.