CSU Donors Making a Difference: John (BBA ’71) and Patricia Thompson (BBA ’71)

If you ask John and Patricia (Patty) Thompson about the many items on their gratitude list, Cleveland State University comes top of mind. John and Patty not only credit CSU as the bedrock for their education and professional success, but also for bringing them together. 

“Were it not for CSU, we would have had much different lives,” they said.

“The education we received was very instrumental in us being able to find good jobs right out of college. Falling in love as we did at CSU also made for a very happy and fulfilling 50 plus years together." 

John and Patty met as freshmen in 1967 while attending CSU’s extension at Lakewood High School, later studying together at the main campus and earning their degrees in accounting. Typical of many CSU students, John and Patty worked all four years while studying at CSU and were the first in their families to graduate college. They both landed excellent starting jobs in their field, were married in the fall of 1971, grew successful careers, and just celebrated 53 years of marriage as proud parents and grandparents.

The opportunity to attend CSU opened many doors for John and Patty. As a demonstration of gratitude for their education and desire to help students achieve their dreams and goals, they have recently become distinguished philanthropists at CSU. Among their generous support is the John and Patricia Thompson GRHD Seminar Series which brings renowned scholars and researchers to campus to present on groundbreaking genetic research, and the John and Patricia Thompson Tutoring Center Endowed Fund which supports a graduate assistant to tutor accounting students.

The Thompsons are at the top of Cleveland State University’s gratitude list! We are pleased to have them share their insights about the importance of giving to CSU in their lives and to future generations.

What do you find most meaningful about your philanthropic giving to CSU?

Patty: "We have been blessed to be in a position to now help others better themselves. One of our most satisfying efforts has been to do what we can to help other first generation CSU students succeed. It cannot be overstated how important CSU is to Northeastern Ohio when it comes to providing an excellent education at a very affordable cost." 

How does CSU keep in touch on the impact of your programs and connect you with the students who benefit from your funding?

John: "The various programs we have helped fund have involved numerous departments at CSU. It is meaningful to us that we have been regularly updated on the progress of the programs. Even though we live in Arizona when we do get to Cleveland we are fully briefed on these programs and also receive a review of the University’s accomplishments and challenges."

Your philanthropic donations have often come by way of Qualified Charitable Distributions (QCDs) from your IRA. Why have you found this means of giving beneficial to you and CSU?

John: "A large part of our donations have been made through the use of QCD payments from our IRA accounts. Since we knew we wanted to help CSU, the use of QCDs has given us significant tax advantages.  By donating directly from our IRAs to CSU, the amount is excluded from  taxable income. This can result in lower taxes compared to taking the RMD as taxable income and then making a charitable donation. It can also lower your tax rate since the QCD reduces your adjusted gross income. Sorry, the accountant in me is getting carried away! Suffice it to say that the use of QCDs is great for the institution and for us."

Would you encourage others to give through their IRAs? What steps would you advise them to take in beginning this type of support?

John: "As you think about how to help the various institutions that have made an impact in your lives you should look into the use of QCDs. Start with a conversation with your tax advisor and/or your bank to see what needs to be done to be in compliance. It is imperative that the payments go directly from your IRA to the institution. Once you have the guidelines you can then determine what amounts and institutions will be included. The current limit for QCDs in 2025 is $108,000." [limit for 2024 is $105,000]