Inherited IRA Compliments an Albers Legacy
For Marsha Tellesbo-Kembel, '70, '77 MBA, building a legacy means giving back and paving the way for future learners in a manner that aligns with her passions, while also honoring her late sister and fellow Seattle University alumna. Through a bequest and an endowed scholarship she established, Tellesbo-Kembel is doing just that.
After graduating from Seattle University in 1970 with a degree in French—and a two-year stint working abroad in Paris—Tellesbo-Kembel returned to her alma mater to pursue a Master of Business Administration. She knew the second degree would assist in her job search and always had an interest in finance and math. However, when Tellesbo-Kembel planned to interview with a bank, a nudge from an SU professor made her rethink her plans.
"I remember talking to Dr. (Hildegard) Hendrickson. She didn't think I'd be happy working for a bank because I'm too independent," Tellesbo-Kembel says. She was inspired to consider the possibility of creating a job for herself. "That set me on my path to starting my own business, which was a risk. I gave myself three years to do it and reached it in two and half. The MBA gave me all the skills to do what I do."
Decades later, Tellesbo-Kembel is now celebrating a successful career as Founder and CEO of Tellesbo & Company, a Seattle-based business consulting company.
Her affiliation with SU continued to grow as her brother John Tellesbo, '77 MBA, and late sister Linda Tellesbo, '85 MBA, became alums as well.
After Linda passed away, Tellesbo-Kembel and John established the Linda H. Tellesbo Endowed Scholarship to support Albers MBA students. When thinking about how to honor her late sister further, Tellesbo-Kembel reflected on their shared passions. Linda was a soccer player and although there were no women's sports at Seattle University at that time, they both enjoyed watching and attending collegiate and professional sports together. After a conversation with Albers Dean Joseph Phillips, Tellesbo-Kembel was intrigued by the MBA in Sport and Entertainment Management program and realized it was the perfect way to honor her sister and family's legacy.
As the beneficiary of Linda's IRA accounts, Tellesbo-Kembel was able to designate specific retirement accounts to make charitable distributions to Seattle University. This means the IRA distributions will be available for Tellesbo-Kembel during her lifetime and then support the scholarship endowments as part of her estate. The gifts will support MBA students, the Dean's Fund and scholarships for the Sport and Entertainment Management MBA program.
"Talking with the SU gift planning team was a simple process," Tellesbo-Kembel says. "Because we had already set up the scholarship in Linda's name, I felt that it was appropriate to take the money from the retirement accounts and distribute it out to the three programs," says Tellesbo. "I felt that for my sister's legacy, that was the important thing to do. There are beneficial tax implications as well, but that wasn't the main reason. For those who want to give back to the school, this is a good way to do it."
Along with being a longtime Legacy Society member and donor, Tellesbo-Kembel's lasting legacy includes serving as the inaugural president of the Albers Alumni Association, raising funds for scholarships for business students and serving as a mentor. Tellesbo-Kembel's generosity, volunteer support and thoughtful planning will impact Redhawks for generations to come.
