Agenda Item
iv. Donation Acceptance of $23,658.97 in Funding from the Waltemeyer Estate in Care of Truist Wealth Management
Summary: Presented By: Mrs. Jennifer Caracciolo, Interim Chief of Community Engagement & Innovative Partnerships, Division of Community Engagement & Innovative Partnerships
Request: It is requested that the Board of Education accept a donation from Truist Wealth Management on behalf of Mr. Robert Waltemeyer’s estate in the amount of $23,658.97. This amount represents Fernbank Science Center’s share of accumulated income (interest and dividends) for 15,872 common shares of Coca-Cola Co. with a value of $58.1925 per share.
Why: The funding provided by Mr. Robert Waltemeyer’s estate in care of Truist Wealth Management in the amount of $23,658.97 will be utilized to support the Fernbank Science Center.
Details: The Robert V. Waltemeyer Trust agreement directs the Trustee to divide the Trust into two shares, the Family Share A and the Charitable Share B. Fernbank Science Center is listed as one of the charities under Share B. The Trustee (Truist Bank) has opened and is funding Share A and Share B from the Robert V. Waltemeyer Trust with the Coca-Cola stock as well as the accumulated income (interest and dividends). Fernbank Science Center’s share of accumulated income (interest and dividends) for 15,872 common shares of Coca-Cola Co. with a value of $58.1925 per share has an Estate Tax Value in the amount of $923,631.36. This number of shares is subject to change, and the final number of shares that is received may be less than the number that has been provided. However, even if the number of shares changes, the basis of $58.1925 per share will not change. Income distributions will occur periodically during the administration of the Robert V. Waltemeyer Trust agreement.
Financial impact: There is no financial impact for the district accepting a donation in the amount of $23,658.97 from Truist Wealth Management on behalf of Mr. Robert Waltemeyer’s estate.
Contact: Dr. Penny Mosley, Interim Chief Academic Officer, Division of Curriculum & Instruction, Division of Curriculum & Instruction, 678-676-0731
Mrs. Jennifer Caracciolo, Interim Chief of Community Engagement & Innovative Partnerships, Division of Community Engagement & Innovative Partnerships, 678-676-0218
Dr. Sean R. Tartt, Deputy Chief Academic Officer, Division of Curriculum & Instruction, 678-676-0731
Mrs. Janetta Greenwood, Director, Fernbank Science Center, Division of Curriculum & Instruction, 678-874-7119
Effective: October 7, 2025
Status: Approved by Office of Legal Affairs