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, who are 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.  The community must raise $100,000 in additional funds over a three-year time frame.

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 will qualify for matching funds from the Ford Foundation Challenge grant.

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