Dr. Eric Jolly's Parting Retirement Gift: Real Estate Gift Benefits the Community
Learn how our former Foundation President & CEO and his wife are using a gift of real estate to support agents of change.
Dr. Eric Jolly may have retired from his position as president & CEO of the Saint Paul & Minnesota Foundation, but he hasn’t stepped away from making an impact on our work.
To add to his legacy in Minnesota, Dr. Jolly and his wife Elizabeth decided to donate their condo in downtown Saint Paul.
“This gift is something we can give to the community and pass on to the next generation,” said Dr. Jolly. “Our hope is that this investment in our collective future will advance the Foundation’s mission of a thriving Minnesota.”
Benefits of Donating a Non-Cash Asset
When going through a life transition such as retirement, it's natural to think about one’s legacy. The Jollys felt it was important to find a way to share their wealth with the community rather than sell their condo for profit.
A gift of real estate is a great way for donors to make a bigger impact on the causes and nonprofits they care about most. Making a gift of real estate through a donor advised fund or DAF offers donors potential tax benefits at the time of the gift and allows them to support multiple organizations whenever they choose.
It also gives donors the opportunity to make larger donations that can be distributed to multiple organizations over time.
“We want to make sure the people making a difference in our community can be less concerned about finding funding and more concerned about doing their great work,” said Dr. Jolly.
“Our hope is that this investment in our collective future will advance the Foundation’s mission of a thriving Minnesota.”
Eric J. Jolly, former president & CEO
Plans for the Future
Since establishing their DAF with the Foundation in 2017, the Jollys have felt it was important to support agents of change, like teachers and social workers. Over the years, they have made grants to organizations that support the arts, science, human services and education.
“We love supporting education, particularly K-12,” Dr. Jolly said. “We also support Augsburg University and Hazelden Betty Ford Foundation.”
Since donating their condo to the Foundation, the couple has made plans to upsize, which means buying a house in Minnesota with a yard for their grandchildren to gather and play.
This also means the community will have more time to spend with Dr. Jolly. He plans to continue serving the community through his involvement in board memberships and individual mentorships throughout the state.
The Growing Popularity of Real Estate Gifts
Dr. Jolly and Elizabeth join a long list of donors who've used non-cash assets such as real estate donations to realize their charitable giving goals, making a lasting impact on the community. Read about other donors:
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