Fairmont State Foundation Receives Large Donation - WBOY.com: Clarksburg, Morgantown: News, Sports, Weather

Fairmont State Foundation Receives Large Donation

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FAIRMONT -

A gift from a Fairmont native will help some Fairmont State University students pay for their education.

The estate of James Walton of Salem added more than $200,000 to the FSU Foundation for scholarships.

Now, the foundation's assets exceed $20 million.

"Support from the Fairmont State Foundation and thoughtful donors such as Mr. Walton provides much needed scholarship funding. With this help, Fairmont State University continues to meet students' needs for financial aid and to provide opportunities for students to meet their personal and professional goals," said FSU President Maria Rose.

Bequests have added more than a million dollars of that have been added since July 1.

Foundation officials said gifts made through planned giving make a significant impact on the lives of future students and their families.

The American Taxpayer Relief Act of 2012 has been extended through Dec. 31, 2013.

"This very popular Charitable IRA Rollover allows all taxpayers age 70.5 or older with a traditional or Roth IRA the opportunity to make a tax-free distribution of up to $100,000 per taxpayer before the year-end deadline directly from these accounts without incurring federal income taxes on the withdrawal," said William Armistead, President of the Fairmont State Foundation, Inc.

For more information, contact the Fairmont State Foundation, Inc., at (304) 534-8786.