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 Eric W. Kjellmark Jr.
OperaDelaware Fund
It’s been more than 20 years since Eric W. Kjellmark
Jr. sang on the stage of OperaDelaware, but his voice has continued
to resonate behind the scenes. OperaDelaware has been a passion for
Mr. Kjellmark since he joined the chorus in 1956; he later served on
the board, including three non-consecutive terms as president. Since
his retirement from DuPont in 1985, Eric has been a volunteer member
of OperaDelaware’s professional staff.
Long after Eric Kjellmark retires from OperaDelaware,
his voice will be heard by generations yet to discover the beauty of
opera. Mr. Kjellmark has looked toward the future by creating the
OperaDelaware Fund at the Delaware Community Foundation. To provide
funding for the OperaDelaware Fund, Mr. Kjellmark established an
account with Fidelity Investments Charitable Gift Fund’s Pooled
Income Fund, using some appreciated stock.
It was OperaDelaware’s campaign to raise $1.5
million in endowment in direct and deferred funds that gave Eric
Kjellmark the impetus he needed to start a fund at the DCF. While he
wanted to make a major contribution to the effort, he was also
concerned about his own income needs. The solution was to make a
$25,000 gift to the pooled income fund – it offers him an immediate
income tax deduction, pays him life income on a quarterly basis and,
upon his death, supports the ongoing activities of OperaDelaware.
If you’re going to leave a legacy for the future,
somebody has to take the first step, Eric believes.
In addition to supporting his beloved OperaDelaware,
Eric’s hope in establishing the fund is to use it as an example of
what an individual with moderate means can to do to make an impact
on the future of an organization that is important to him. Mr.
Kjellmark believes that people who reach the age of 65 should start
looking at the statistics and realize the benefits of a pooled
income fund. It’s a good way to re-invest appreciated stock for a
higher yield while avoiding tax on the gain – and a wonderful
vehicle for making a gift to your favorite charity.
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