An account has been created for Ryndi Bowe at the Bank of America in Pendleton, OR, to help with funeral and other expenses in the wake of Ryan's death. The account is named the Bowe Family Fund and is accessible by contacting the bank directly.
In addition to this channel many have suggested creating an account or fund exclusively for Washington and Lee alumni, Kappa Sigmas especially, who wish to help financially with the obvious challenges resulting from his unexpected departure and his limited life insurance (~$10K). The goal would be to demonstrate the collective impact Ryan had on the W&L community throughout his four years in Lexington.
We were also considering a golf outing fundraiser later this year or early next where we all might have the opportunity to remember Ryan while possibly donating money to a college fund for his son.
I would like to open the forum to comments regarding (1) if it makes sense to create a separate fund for W&L contributions and (2) what type of accounts/funds would make the most sense.
9 comments:
Love the idea of some sort of fundraiser next year and in the years to come.
I would imagine the day-to-day expenses of raising a child are the highest priority now and for the next couple of years. But, like you, I'd like to see Bowe's college friends start a fund for Li'l Ryan's college expenses. I've got my wife looking into the ins and outs of a college fund (in OR) and she'll be happy to do whatever we need to open/manage an account..
I think Jay is on the right path here. To echo something Ian said, I think that individual contributions to his wife &/or folks (under the gift limit of 11k) might be more effective at this point to take care of immediate costs. A trust of some kind might be more appropraite for the long-term needs and help to avoid any tax issues.
I got too caught up in the details to make note of the most important part: whatever is going to be easiest Ryan's wife & folks. If, in the short term, they'd rather hit BoA then receive a flurry of mail, then sobeit.
I agree with gp. If someone feels comfortable calling up Bowe's father I think it might be best just to speak frankly to him about how best to get her the money. If everyone keeps the gifts under the tax limit I don't think it really matters how it gets to her.
I honestly think it might take too long to coordinate a group gift for her immediate expenses. Why not just write W&L, KE, or whatever (just make it consistent) on the note line?
I really like the idea of a fundraiser down the line for little Ryan's college fund. It might be best to set up a 529 for him. My understanding is that anyone can contribute, the money grows tax free, and the withdrawals for college expenses are tax free. If someone has different info or a better idea please chime in.
I'm happy to talk to anyone about Ryan, his families needs and the things we are trying to do. My heart his wife's and his mother's are overwhelmed with the wonderful things you guys are doing. I would love to be invited to the golf outing. I very much enjoy hearing of his escapades and activities in college. My contact info:
larry.bowe@providence.org
503-317-3964 cell
503-925-0841 home
503-537-1701 work
I really appreciate what you guys are doing and also enjoy the stories about Ryan and his activities and escapades in college. He really enjoyed his time there and it helped mold him into the wonderful man he became.
I want to come to the golf outing and his mother and brother might also. Probably we will drive cross country with the driver choosing the music(lots of Robert Earl Keen when it was Ryan's turn), you can't stop to pee unless it is a gas stop and not many words exchanged unless there is something to say. All things I learned from Ryan on that last cross country trip I got to take with him home after he graduated.
Whoops no name.
Contact info:
larry.bowe@providence.org
cell 503-317-3964
work 503-537-1701
home 503-925-0841
The family fund at Bank of America can be accessed by Ryndi with no tax consequences. We will set up One 529 for education for Ryan Parker Stuart Bowe and will give account info once it is set up. Thanks. Ryan's Dad
This information is courtesy of Eric Ridler who cannot access the blog at work:
As I found out yesterday, even as a BofA employee, finding data on the fund account was really tough – the name in the paper was a little off. I did the research and spoke with Brandon Kruse, Assistant Vice President at the Pendleton, OR branch who set up the fund. I would just recommend sending a check directly there as they will know where it goes and your local BofA branch may not be able to find the account.
“Bowe Family Memorial Fund”
c/o Bank of America
Attn: Brandon Kruse, AVP
301 South Main Street
Pendleton, OR 97801-2245
I'd just like to thank everyone for the information about the fund and send my condolences to his wife and family. Ryan was a terrific person.
Post a Comment