John Nolan 
Buddy LeTourneau John Nolan ’70 and Buddy LeTourneau ’71 share a passion for their alma mater, with a vivid dedication to W&L that both have expressed as longtime class agents and 50th reunion leaders. Due to the coronavirus pandemic, Washington and Lee postponed in-person gatherings, including reunions, for the past two years. LeTourneau and Nolan are hard at work with their committees to garner support for their respective 50th reunion class gifts while helping to organize events leading up to a much-anticipated Reunion Reconnect Weekend March 18-19, 2022.
“I think it will be great to have two 50th reunion classes come back to campus in March,” Nolan said. “That provides the opportunity for even more reconnecting.”
Nolan and LeTourneau are looking forward to celebrating together this spring. They are eagerly encouraging their classmates to come to campus in March and support the lasting legacies of their 50th reunion class projects.
The Class of 1970 chose to enhance the Robert E. R. Huntley Scholarship Endowment established during its 25th reunion. The Class of 1971 supports two new funds: The Class of 1971 Washington and Lee Scholarship Endowment and The Class of 1971 R.E. Lee Summer Research Endowment.
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How IRAs Make 50th Reunion Giving Easy
Nolan and LeTourneau contributed gifts to their 50th reunion class projects using Individual Retirement Account (IRA) assets.
LeTourneau is making gifts to the Annual Fund over the next five years and to the class project with Qualified Charitable Distributions (QCD). The QDC rules allow individuals age 70½ or older to make direct gifts up to $100,000 annually from a traditional IRA to qualified charities. The QCD counts for the IRA owner’s required minimum distribution (RMD), reducing the taxable amount. Additionally, LeTourneau named W&L as a beneficiary of his retirement account, allowing him to stretch his 50th reunion gift.
LeTourneau named W&L as a beneficiary of his retirement account, allowing him to stretch his 50th reunion gift.
Nolan did the same, giving with his IRA as well as naming W&L as a beneficiary. “From a tax standpoint it made more sense to give via an IRA distribution,” he said. “We can’t predict the future. My gift is a percentage of my retirement assets. That way if my assets are lower than expected, my heirs are not negatively impacted by a W&L commitment of a specific dollar amount. In like manner, if assets are higher than expected, W&L can benefit as well as my heirs, who would also have more than currently envisioned.”
Learn more about giving after your 45th reunion or providing a gift through your IRA.
How IRAs Make 50th Reunion Giving Easy
Nolan and LeTourneau contributed gifts to their 50th reunion class projects using Individual Retirement Account (IRA) assets.
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Giving to Help
When we focus on the needs of others, we regain perspective on our own circumstances and are given a sense of control of our future. Helping others can diminish our anxiety, build our self-confidence and provide an opportunity to begin a legacy.
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Paying it Forward
The Class of 1970 established the Robert E. R. Huntley Scholarship in 1995 as part of its 25th reunion celebration. It recognizes the outstanding academic and personal achievement worthy of a Washington and Lee Honor Scholar.
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School Is In for the Summer
The Class of 1971 supports two funds for its 50th reunion project: The Class of 1971 Washington and Lee Scholarship Endowment and the Class of 1971 R.E. Lee Summer Research Endowment.
Read More »