Joe Jordan, CPA, is both compassionate and practical. The Notre Dame graduate who served four years in the US Navy during Vietnam, and another 16 as a reservist. He still works part-time because it allows him to stay busy and engaged while giving him time to exercise and share his time and talent with the many charities he supports.
Joe’s connection to Nativity Prep started with his connection to Notre Dame; it was through the Notre Dame Club that he met Nativity founder and fellow Notre Dame alumnus, David Rivera in 2001. A friendship quickly developed, and David began sharing his vision of a school for first-generation, low-income students. Joe went down to see the school and noticed that there were many needs. Joe recalls that many of the teachers in those early years were Notre Dame graduates, the school was in a building where the faculty also lived and money was tight. He could see that there were a lot of needs to be met. When he asked David what he needed, David replied “I need you.” Joe answered the call serving as a Trustee, Finance Committee Chair, Tutor, and Mentor through the years.
What he loves about NPA: “The passion of the faculty, staff, and students.”
Why he gives: Watching the kids graduate, he says, makes him proud to support an organization that is making a big difference in the lives of young students. As he looks ahead, he hopes his future gift will help Nativity continue to grow, expanding our reach to support even more students on their journey to a college degree.
How he gives: Through a Charitable Remainder Trust which provides an income stream to the donor during their lifetime and transfers the remaining trust assets at the end of the trust term to the named non-profit.
What is a Charitable Remainder Trust?
A Charitable Remainder Trust (CRT) is a gift of cash or property to an irrevocable trust that benefits both the donor and the named charity of their choice. The donor receives an income stream from the trust during their lifetime (or a set term) and the named charity receives the remaining trust assets at the end of the trust term. When the CRT is initially funded the donor also receives an immediate income tax charitable deduction.
For donors seeking a current or future income stream, a CRT may be a great option. Donors should work with a qualified estate planning attorney and tax advisor to confirm that a CRT will provide the expected results both with respect to the income tax consequences of the gift as well as the administration of the CRT.
