Couple Supports Engineering With IRA Qualified Charitable Distribution
Laird and Shawna Parry
By Daniel Park
After turning 72 and having a conversation with his wife about best options to support UC Davis, Laird Parry ’69 realized that a qualified charitable distribution (QCD) with their IRA would accomplish two goals at once: satisfy the IRA’s required minimum distribution and fulfill their philanthropic goals.
Parry has been supportive of his alma mater since earning his mechanical engineering degree, maintaining a strong connection to UC Davis through his network of college friends and professors. Eventually, he decided to start supporting the university by making charitable gifts.
“Initially I made small donations of a couple hundred dollars to ‘help the cause’ because that’s what I felt like I could do at the time,” Parry said.
It was through his close UC Davis circle that a fellow alum urged him to contribute to the renovation of the Diane Bryant Engineering Student Design Center (ESDC). The ESDC is the university’s primary prototyping shop that offers invaluable education, resources and support to elevate student learning experiences.
“We are fortunate to be able to donate to a hands-on place like the ESDC,” said Shawna Parry. “It’s a perfect match for Laird’s mentality: book learning is necessary, but the ‘get-your-hands-dirty’ method of learning is the most fun.”
In recognition of their gift to the ESDC, the Parrys named the center’s Creativity Pillar, which both physically supports the building and symbolizes the value of creativity in engineering.
A tax-savvy choice
“There’s been a rise in QCD gifts, as it’s becoming a more attractive option to give and support UC Davis for individuals,” said Aydee Ferguson, Director of Planned Giving.
Donors can make a QCD gift at age 70½, regardless of when they are required to take distributions. To pursue philanthropic goals, individuals can give any amount up to $100,000 per year from their IRA directly to a qualified charitable institution like UC Davis.
The gift is tax-free when funds are transferred directly from an IRA to a qualified charity, thus excluding the amount from taxable income.
“It’s very strategic, and easy to set up,” Ferguson said. “People who have a required minimum distribution find QCDs a great way to give.”
Aggies paying it forward
Laird Parry says he always tried to take full advantage of every opportunity presented to him. After graduating from UC Davis and serving in the military, he worked in a design, engineering and research jobs before joining one of his former professors at FlowMole Corporation.
Ten years later he joined OMAX Corporation to help develop the OMAX water jet machining system, which is used in the newly developed ESDC.
Laird Parry’s engineering experience and his loyal support of the ESDC’s heightened presence shows how special UC Davis is to him.
“You had this combination of the professors, the earnest younger students and this collective enthusiasm to go out and do things together,” Laird Parry said. “You only look back and see how important and significant that all was.”
The Parrys hope their support will contribute to a one-of-a-kind UC Davis experience for future students—a place to experiment, learn, build a network and chart a future.
“Laird’s enthusiasm for UC Davis engineering, its capable professors and interesting fellow students painted for me a picture of support, encouragement, academic excellence and fun,” Shawna Parry said.
Supporting UC Davis’ future is simple
A gift from your IRA is easy to create, and the impact it can have is transformational. To learn more, contact the Office of Planned Giving at (530) 754-2286 and plannedgiving@ucdavis.edu today.