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IRA charitable rollover gifts dedicated to greatest potential for good

Retired Lt. Col. Louis C. Butaud, Jr. ('59) left his mark on the world leading successful careers in the United States Air Force and United Services Automobile Association, helping displaced families after Hurricane Katrina and volunteering with his church.

Butaud is now extending that mark with a namesake endowed B.I. Moody III College of Business Administration scholarship funded by charitable rollover gifts from his Individual Retirement Account (IRA). This scholarship gives back to the academic program that was instrumental in providing him the skills, knowledge and personal growth necessary to succeed in his chosen career in computer and personnel data systems development.

Butaud's generosity was catalyzed by a call from the late senior director of planned giving, Dave Comeaux, who asked him if he had considered the University of Louisiana at Lafayette in his giving plans. Their conversation caused Butaud to reflect on what else he could do to leave the world a little better for those who follow and created an opportunity to inspire others to do the same. After continuing to explore options with Camille Breaux, director of development, he decided to make a difference through helping students.

"My gifting decision was driven by a belief that money achieves its greatest potential for good when invested in education. This endowed scholarship gift creates a way to have a beneficial impact on deserving students over many generations," says Butaud.

Butaud is funding this scholarship through IRA charitable rollover gifts, also known as qualified charitable distributions (QCD). These gifts can be made by individuals starting at age 70½ and are paid directly from the IRA to qualified charities like the University of Louisiana at Lafayette Foundation. Butaud recommends these types of gifts to those who are eligible due to the ease of the process and potential tax advantages.

For anyone considering donating to UL Lafayette, Butaud encourages them to look at the good that the gift can do over a long period of time. He was a scholarship recipient in college and appreciated that generosity. He hopes now that not only other donors will give, but that students are inspired as well.

Butaud is thankful for his years at then-Southwestern Louisiana Institute and proud that it has become today's exceptional UL Lafayette. He enjoys keeping up with University accolades and hopes the Louis C. Butaud, Jr. Scholarship Fund will ultimately help many deserving students complete their degree work, achieve their dreams and also make this world a little better for those who follow.