WALKER SOCIETY PROFILE: Roddey Dowd, Jr. ’74

All of us know the old line about death and taxes being the only two certainties in life. For Roddey Dowd, Jr. ’74, planned giving represents an opportunity to make sure the first doesn’t lead to an abundance of the second. “If you’ve accumulated any wealth in your life, there will be the potential of a taxable event at your death,” he notes. “Why give the government a chunk of that money that was already taxed once when you earned it when you can give some to your family and then some to a charitable entity?”

Woodberry has long been in Roddey’s blood—he’s the grandson of Frank Dowd, class of 1915; the son of Roddey Dowd, Sr. ’50; and the father of Roddey Dowd, III ’06. He served for 18 years on the school’s board of trustees, including as vice chairman and as chairman of the executive committee. He was twice a member of the advisory council, once as the council’s president, and has been a constant leader for one of Woodberry’s most successful and involved classes. In 2016 he received the Distinguished Service Award. Now his planned gift through the Walker Society means this lifetime of support for Woodberry will continue after his death. “Woodberry embodies the values I have admired and appreciated all of my life, and I want my money to go to them,” he said.

Roddey has chosen to establish his planned gift through a pair of donor-advised trusts that will be funded upon his death. The trusts are administered by investment managers who will steward the resources and pay a percentage of the trust’s annual income to Woodberry. One trust names Woodberry as the sole beneficiary, while the other gives the trustee latitude to support both Woodberry and other charitable institutions.

The past decade has seen several changes to American tax laws around estates, and additional changes may be ahead in the coming years. Though the exact nature of those changes is not yet clear and will be determined by Congress, Roddey notes that this is an excellent time for individuals or families to work on their plans.

“There are a lot of ways to skin the cat, but it all goes back to charitable intent,” he said. “It’s got to be clear and in writing, otherwise you’ll have the IRS knocking on your door looking for a payment.”