MEMBER GRADE: Senior Member
Longtime IEEE Senior Member David Durocher has dutifully served IEEE in numerous ways over the years, from his roles as President of IEEE’s Industry Applications Society and Director of IEEE Division II (2019-2020) to his current position as Editor-in-Chief of IEEE Industry Applications Magazine. But no less important to him has been his ongoing role as an advocate for charitable giving through the IEEE Foundation’s many mechanisms, especially donor-advised funds.
“I’ve always admired the IEEE’s inspirational tagline (‘Advancing Technology for the Benefit of Humanity’) and I believe there’s no better example of the IEEE taking action to deliver on this lofty commitment than the IEEE Foundation,” Durocher said. “First established in 1973 to accept and administer charitable donations for the support of IEEE Awards, the role of the IEEE Foundation has expanded significantly over the years and it currently offers grants to worthy projects and supports dozens of initiatives that are indeed benefiting humanity worldwide.”
Among the many ways to contribute to the IEEE Foundation, Durocher recommends that people consider establishing a donor-advised charitable giving fund, which both maximizes taxable deductions while minimizing taxable income. “A donor-advised fund is a charitable investment account created for the sole purpose of supporting charitable organizations you care about,” shared Durocher, who uses a Fidelity Giving Fund to make donations to the IEEE Foundation. “When you contribute cash, securities, or other assets to a donor-advised fund, you’re generally eligible to take an immediate tax deduction; those funds can then be reinvested in a tax-free growth account and you can self-direct grants to virtually any IRS-qualified public charity.”
“Our society is fortunate to be active and engaged with the talented IEEE Foundation volunteers and staff who have consistently supported initiatives that advance technology for the benefit of humanity,” Durocher concluded. “If you haven’t donated in the past, I encourage you to include the IEEE Foundation in your charitable giving plan and help make a difference today.”