Gift Endows Exeter Area and NCF

Louisa and Richard Manning

The late Richard Manning admitted that he liked to kid around. However, the charitable gift that he and his wife, Louisa, have made will have a truly meaningful impact for generations to come.

Richard and Louisa Manning, both 1944 graduates of Exeter High School, used a charitable IRA distribution to make a $50,000 challenge grant to the Exeter Community Foundation Fund to establish an unrestricted endowment. The Charitable IRA Rollover law, which expired December 31, 2011, allowed those age 70½ and older to transfer funds from an IRA to a charity tax free.  Their hometown community successfully raised over $100,000 in additional funds in just two years, creating a $150,000 permanent endowment.

In addition, Mr. and Mrs. Manning contributed $50,000 to the Nebraska Community Foundation’s endowment. This generous gift holds even more value because it qualified for matching funds from the Ford Foundation Challenge grant.

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