Tom Moor Provides for Family and UT through Planned Gift
Supporting UT was an easy decision for Tom Moor (Bus ‘64), whose family has long roots in Toledo and an affinity to UT. “My grandfather, William Frey, moved here to start a business in about 1910,” said Mr. Moor. “He started a family tradition of giving to UT with his establishment of the William B. Frey Scholarship Fund, upon his passing in 1958.”
Mr. Moor received a bachelor’s degree in engineering from The University of Michigan and began his career at the Design Center of the Libbey Division of Owens Illinois. However, he soon decided he wanted to explore other opportunities. He enrolled in UT’s College of Business, concentrating in finance and accounting.
“Dr. Hubert Frisinger, whom I much admired, was my mentor,” said Mr. Moor. “Together, we started the UT Finance Club, inviting speakers from businesses in the area to give talks in their field of specialty. They were a big hit and well attended by those in the business school.”
Upon graduation, he accepted a position in the tax department of Owens-Corning Fiberglas in Toledo—a field he enjoyed for the remainder of his career. “During my tenure at OCF, we lived across from the University, and I have fond memories of the campus tower and buildings,” he said. Subsequent positions in other companies led him to Asheville, N.C.; Boston; and finally, Florida. He and his wife, Jacqueline (Munella) Moor currently live in Indian Harbour Beach.
Although his career took him many miles away, UT remained close to his heart. “There is so much to be gained through the experiences of college and the opportunities that an education can afford,” he said. “You make lifelong friends and become focused on the future.”
After retiring in 2006, he discussed his estate plans with his attorney. “He suggested a Qualified Charitable Trust (QCT),” said Mr. Moor.
“Upon Mr. Moor’s death, a portion of his IRA will be distributed to a new charitable remainder trust (CRT),” explains Kirk Ross, UT director of planned giving. “The tax consequences of that IRA distribution will defer, or possibly eliminate, payment of any tax due for many years.”
For the next several years, the CRT will provide a reliable source of income to several members of Mr. Moor’s family. When the CRT term has passed, remaining assets will pass to the UT Foundation to support the Thomas R. Moor Endowed Scholarship Fund, a renewable scholarship for deserving Lucas County residents.
“Tom Moor has elected to combine a couple of different giving vehicles in a skillful way that will provide for both his family and his alma mater in a uniquely tax-efficient manner,” said Mr. Ross. “We are grateful for his generosity and foresight.”
“UT is a great institution,” said Mr. Moor, “and Toledo has a fundamentally hard-working and ethnically diverse population. I wanted to give back to those who may not otherwise be able to afford a college degree.”
For more information about how planned giving opportunities can benefit both you and The University of Toledo, contact Kirk Ross at email@example.com or 419.530.5410.
Although he and his wife, Jacqueline, live in Florida, Tom Moor chose to give back to the Toledo community and UT through a planned gift.