RESUMPTION OF RMD REQUIREMENTS FAVORS LOCAL SCHOOL
Contact Name: Rafael Robles
Contact Email: firstname.lastname@example.org
Contact Phone Number: 941-926-1700
Sarasota, FL – March 5, 2021 – Sarasota Military Academy Foundation (SMAF) was honored to receive a generous gift from Alabama native and Sarasota philanthropist, Mrs. Rebecca Tompkins in support of the greatest needs fund serving the SMA High School and Prep Middle School.
The Tompkins gift came as a result of the IRS change governing retirement accounts for 2021. Since the required minimum distribution (RMD) waiver no longer is in effect this year, Mrs. Tompkins felt that giving back to a mission close to her heart would be the optimal option—including benefitting from some tax-favorable results.
“It is important to remember that funds must be transferred directly from the IRA to an eligible charity to obtain the tax benefit, so my choice to support Sarasota Military Academy through its Foundation was an easy one,” remarked Mrs. Tompkins.
During a recent visit to the SMA High School campus and following all Covid Mitigation Protocols established since the Academy resumed in-person classes last semester, Mrs. Tompkins felt a sense of rekindled pride as she watched a group of SMA Cadets going to class. “They need to remember to walk with their shoulders back, like my son did at West Point,” she exclaimed. SMA currently has nine alumni attending The United States Military Academy West Point—a reflection of the education and values instilled in every cadet at the Academy from Grades 6 through 12.
Similar to the Tompkins’s gift, others have seen the merit of donating their RMDs in support of nonprofit organizations like Sarasota Military Academy. According to SMA Foundation Executive Director, Rafael E. Robles, “This is a win-win for the charity and the donor because contributing through this vehicle allows for mission-impact and donor-benefit while complying with IRS requirements.”
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About Sarasota Military Academy
Sarasota Military Academy is a public charter school serving grades 6 through 12 located in Sarasota, Florida. Founded in 2002 with a career and college preparatory focus on two campuses, SMA offers a unique academy experience for a diverse student population from its four surrounding counties. Experiential learning underpins an unparalleled academic education and builds life-long core values instilled through its JROTC and Military Studies curricula. Sarasota Military Academy High School is located at 801 N. Orange Avenue and Sarasota Military Academy Prep Middle School, is located at 3101 Bethel Lane. To learn more about SMA, visit https://www.sarasotamilitaryacademy.org/