Carthage Native Established $5,000 Scholarship with IRA Rollover
In November 2006, Mr. Curt Carter, a childhood resident of Carthage, MO, established the Curtis Rex Carter Science Scholarship Fund to honor his father and benefit students interested in the applied sciences from Jasper County. The fund was established with the Community Foundation of Southwest Missouri, Inc. (CFSM).
Establishing this scholarship fund seemed like a perfect fit for Carter. He believes in supporting applied sciences, like chemistry, electrical engineering, chemical engineering and computer engineering.
“My judgment is that we’re losing our technological edge in the world. Applied science is the engine that drives job creation and the wealth of our nation,” said Carter. “I don’t care about educating educators. I want to educate students who will create products and jobs in the United States.”
Carter also wanted to honor his father, Curtis Rex Carter. “Dad was enrolled in engineering at MU when the Great Depression hit and he had to drop out. Then he put me through college in engineering. I’m just returning the favor.”
The Curtis Rex Carter Scholarship fund will provide its first $5,000 scholarship in the Spring of 2007. The scholarship will be renewable for four years as long as the recipient maintains a 2.8 GPA. To apply, students must be graduating seniors from Jasper County and demonstrate financial need. Scholarship amounts may fluctuate depending on available funds.
Carter has a B.S. in engineering from the University of Missouri and attended the University of California at Berkeley but began work on the Apollo project before completing his own doctoral work. He is an engineer and an architect who worked on projects such as “Large Liquid Propellant Rocket Engines,” the Apollo space mission, and the “Extra Vehicular Back Pack,” later employed on the Gemini mission. Carter is now an artist working from California and Texas.
To finance this new scholarship fund, Carter used the IRA Charitable Rollover provision of the Pension Protection Act of 2006. The IRA Charitable Rollover allows individuals over the age of 70 ½ to rollover up to $100,000 from their IRA directly to a qualifying charity without recognizing the assets transferred to the qualifying charity as income. The provision is effective through December 31, 2007.