Thoughtfully Giving Back as Means of Paying It Forward

Kerry Kincaid ('93) and Dr. Dan Kincaid have been long-time pillars in the Eau Claire community, with decades of service to the Chippewa Valley between them. Kerry served in local government for 25 years, the last decade as the City Council President. Dr. Kincaid served on the Eau Claire Area School District Board of Education for 12 years, most of those years as Board President. Following her graduation with a political science degree, Kerry returned to the university to teach State and Local Politics as a graduate lecturer. Dr. Kincaid shared his passion for medical ethics and cardiology by teaching in the former "Communiversity" program that provided learning opportunities to people in the Eau Claire area.

The Kincaids both grew up in working class families and note that their parents could not afford to support them in higher education. Yet, they both went to college, where scholarships and hard work meant they finished their undergraduate degrees without student loan debt. They recognize that this has become increasingly difficult for today's students and are grateful they can invest in students' futures by alleviating a financial burden of full tuition now. Over 20 years ago they established the Daniel and Kerry Kincaid Pre-Medicine Scholarship, which has grown to now provide full 4-year tuition for students on a pre-medicine track.

In recent years, the Kincaids have shifted their giving from cash donations to a transfer of IRA funds directly to the UW-Eau Claire Foundation. This popular gift option is referred to as a charitable rollover, or qualified charitable distribution, and allows donors to satisfy all or part of a required minimum distribution for individuals age 70 ½ or older*. Charitable giving through an IRA distribution is a way to avoid paying income taxes on the withdrawn funds and can reduce donors' income level.

The Kincaids recognize that the charitable rollover is a way to give significantly to UW-Eau Claire with a widespread impact. "The policy philosophy around minimum distributions is to move money into the community where it can help people," Kerry said. "For us it's a lump sum that could go other places, but we feel has a greater impact when used for education."

The pair's motivation for giving extends far beyond the tax incentive of redirecting their IRA distribution. The Kincaids' generosity is rooted in a desire to help students afford the experience of passionate professors, state-of-the-art facilities, and opportunities for mentorship with area professionals, such as the university's partnership with Mayo Clinic Health System, where Dr. Kincaid has built his cardiology practice. Their family has a deep affection for education and the way collegiate learning has the potential to challenge and open one's mind to new ways of thinking.

"We would like the opportunity for higher education to be available to as many people as possible," Dr. Kincaid says. "We feel UW-Eau Claire is a great university, and we saw a way to help students afford the experience."

The investment that the Kincaids are making today in UW-Eau Claire students has already positively impacted so many lives. Their continued plans to give back to UW-Eau Claire ensures that their impact will last decades into the future.

*as of December 2020