Paving A Path For Women Through Philanthropy

By Lincoln Community Foundation

Jean Jeffrey knows what it’s like to be the only woman at the table.

While pursuing her CPA in the early 1960s, she walked into her first business class to see a lecture hall full of men — with just one seat open in the middle of the room.

During her career, she volunteered her time and often found herself to be the only woman on several service boards.

“They’d always make me treasurer,” laughed Jean.

Throughout it all, Jean fearlessly made her own way as a woman in a male-dominated industry. Her mother had worked as a bookkeeper, which gave her a taste of the accounting world when most women were pursuing teaching or nursing. She credits these experiences to not only her worldview — but her passion for helping women and children through her philanthropy.

Jean recently reflected on her journey that started back in the College of Business at University of Nebraska-Lincoln (UNL).

“Being one of the only women in that scene, the professors knew you,” said Jean.

When she found that open seat in her business class, she caught the eye of her future husband, Michael, who sat in the front row.

“I beat him in the class,” she winked.

Jean was from York; Mike was from Lincoln. In college, they made life-long friends with other couples, many of whom were Mike’s fraternity brothers from Beta Theta Pi.

“We basically had to draw straws to pick which weekend in June we’d each get married,” said Jean.

After graduation, Jean found landing a job as a CPA to be challenging.

“The Bis Ad College placement office actually had printed on the synopsis of the businesses interviewing for positions whether women should apply,” said Jean. “Only two firms would interview me in the accounting area.”

Jean eventually found her “yes” through the national firm Peat, Marwick, Mitchell.

Mike was committed to the Army through ROTC after a deferment to complete law school at UNL. He then went into Judge Advocate General's Corps (JAG) and was stationed in Virginia, New York, and South Korea. Jean joined Mike in Seoul, South Korea, for six months after completing tax season back in Lincoln.

While serving in JAG at a post in New York City, Mike attended New York University for his master’s in tax law. From New York, they went to Florida before returning to Lincoln.

“I’m a Midwesterner at heart,” said Jean.

Mike joined his father’s law practice before eventually opening his own. Jean opened her own accounting firm, and they raised their two daughters back in the town where they met. Jean is an extrovert and was naturally drawn to service roles in the community.

“When I was younger, I gave of my time, and that’s helped me focus my philanthropy locally now. I’ve seen the need so dramatically,” said Jean.

Mike battled heart disease from a young age, so they both retired early to enjoy their time together.

“After Mike passed way in 2009, I went back on a few boards and felt even more compelled to give,” said Jean.

When it came time to think about her own estate plans, Jean turned to the Lincoln Community Foundation.

“After serving on the Foundation’s board, I was familiar with what they did and how they can help you think about your philanthropy,” she said.

Jean set up her legacy plan through a Donor Advised Fund, which is now fully funded. In addition, she opened a Lincoln Forever Fund to support future needs and opportunities in the community through the Foundation’s unrestricted endowment. More recently, Jean has also started utilizing Qualified Charitable Distributions (QCD) from her IRA.

 “I did not start giving through my IRA as soon as I should have,” she said. “It’s just a great tool if you have much of an asset for an IRA. If you need to take your minimum distribution, a QCD counts for that.”

The federal government requires you to withdraw and pay taxes on a portion of your IRA fund balance when you reach a certain age. However, by using a QCD, those funds may be distributed directly to charitable organizations without paying taxes on the amount transferred. 

Jean plans to continue using QCDs, especially when it comes to supporting her favorite causes during the Foundation’s annual giving event – Give to Lincoln Day – each May.

“I’ve always believed in giving back to the community because I felt pretty fortunate,” she said. “I know what it’s like for women to face challenges and discrimination. I’m grateful to be in a position to help.”

For more information and other examples of ways you can use a Qualified Charitable Distribution to achieve your charitable goals, contact Chip DeBuse at (402) 474-2345 or chipd@lcf.org.