Shane Frazier ’98 was swept into the Aggie frenzy as a young boy, attending football games throughout the 1980s and cheering on the maroon and white to three consecutive Southwest Conference Championship wins, including defeating Auburn at the Cotton Bowl, from 1985 to 1987. “I was immediately hooked…you might even say ‘brainwashed!’ he said. “By six years old, Texas A&M University had my heart.” Growing up, there was never a doubt in Frazier’s mind that Aggieland was where he wanted to be.
Frazier went on to become a first-generation student at Texas A&M in 1994. His family initially took out a student loan to fund his education, until he unexpectedly received an inheritance that allowed him to pay for school. While at school, he pursued a degree in finance and became a member of Pi Kappa Alpha, where he utilized his studies and served as treasurer. In addition, he joined Delta Sigma Pi, a professional business fraternity. After earning his bachelor’s degree from Mays Business School, Frazier began a career in commercial real estate as a lender, specializing in residential construction. His career has taken him across the country to Houston, Washington, D.C., Atlanta and now Denver.
While living in Houston between 2013 and 2016, Frazier participated in the Caring Aggie Mentoring Program (C.A.M.P.), where he mentored young students and brought them to tour Texas A&M’s College Station and Galveston campuses. C.A.M.P. volunteers work to encourage children to pursue higher education by introducing them to excellent academic standards and shaping their confidence and leadership skills. Frazier’s work reflected his own childhood, as it was a family friend who frequently brought him to College Station and introduced him to Aggieland. “I still mentor underprivileged youth in my community and see firsthand the economic disparities across demographics of our society,” he said. “Unfortunately, too many people can’t attend college for financial reasons.”
Giving Through an IRA
Though he lives in Colorado, Frazier doesn’t let the distance keep him from continuing to give back to the university that he loves. “I planned to give a gift to Texas A&M since graduating,” he said. “At the time, I didn’t know what that gift would look like, but over the years, I realized the benefits of giving a planned gift through my IRA.
“I would highly recommend this type of gift for others as it avoids tax implications and liabilities,” he said. An IRA beneficiary designation gift is an easy and affordable way to make a gift to the Texas A&M Foundation to support Texas A&M. To create such a gift, individuals simply name the Foundation as the beneficiary on the designation form received from an IRA plan administrator.
IRAs and other tax-deferred retirement accounts are great ways to accumulate assets to provide for retirement. However, they are not ideal for transferring wealth to the next generation because they carry a tax burden to beneficiaries (except spouses) when inherited. Many donors leave less-taxed assets to their heirs and give IRAs or other tax-deferred accounts to the Foundation. As a charitable organization, the Foundation receives the retirement assets tax-free to benefit Texas A&M as donors wish.
When you make a gift through your IRA account, you can continue to use the account for as long as needed, and you can change your mind at any time in the future for any reason, like if you have a loved one who needs your financial help. With this method, it’s easy to support a cause you care about as part of your legacy.
“I hope to encourage others to consider gifting all or a portion of their IRA to Texas A&M, as there is no tax liability to the university,” he said. “If I can help future generations attend the greatest university on this planet with a financial donation from my estate, I feel like I’m paying it forward.”
Through his gift, Frazier chose to create a scholarship for students in Mays Business School. “Mays is where I spent my time, so I would like to provide assistance to students with financial need who are enrolled in the business school,” he said. “There are too many people graduating with student debt, and my goal is to minimize or eliminate that debt for future students. I hope the recipients feel the same way I did when I received my unexpected support that allowed me to graduate debt-free.”
To learn more about creating an IRA beneficiary gift, contact Angela Throne ’03 at (979) 845-5638 or email@example.com.