San Diego, CA – The home of Myrtle Folsom Lyle was recently gifted to KPBS by her son, USD Law Professor Ralph Folsom, creating a legacy of giving back. The retired kindergarten teacher was a Coronado resident and avid fan of KPBS. The gift was accomplished using a charitable remainder trust and is the largest of its kind in station history.
Originally purchased in 1981, the Coronado home’s proceeds from the sale were put into the trust benefitting KPBS and Ralph Folsom and his wife Pixie Haughwout of Point Loma. The trust will generate lifetime income for the couple and be a future stream of revenue for KPBS via the station’s Endowment Fund.
This kind of planned gift allows for donors to avoid capital gains taxes on the sale of the property and can provide vital support to a donor’s favorite charities and income for their loved ones.
Trina Hester, Assistant General Manager for Development at KPBS and Amy Walling, Assistant Vice President Planned Giving and Estates at San Diego State University, facilitated the gift. “This is truly a win-win situation,” said Hester. “Ralph and Pixie can enjoy a reliable source of income free of management responsibilities, avoid capital gains, receive charitable and income tax deductions, and feel the joy of giving a substantial gift that will keep on giving in perpetuity. KPBS will receive a sizable future gift that will benefit generations to come.”
“Mom’s home turned out to be the perfect way to reflect her love of children and their education,” said son Ralph Folsom. “She is delighted to see the home she loved provide for her family and support a charity that means so much to her.”
To learn more about establishing a charitable remainder trusts and other donor opportunities, contact Trina Hester at [email protected] or call (619) 594-2104.
