Alumni and Friends Grow Endowment, Leave a Legacy

For decades, generous alumni and friends of Tri-State and Trine have supported the school's endowment, from which the administration uses the interest to support scholarships for talented students and exceptional faculty and to purchase needed lab and classroom materials. Currently the school's endowment stands at $23 million. Without the annual income it provides, the administration would have to support these initiatives with tuition dollars, driving up costs for all students.

The following individuals have already established estate agreements with Trine University that will ultimately benefit endowments created to fund priorities they feel passionate about and that support the University's needs.

Ross-Rinker School of Health Sciences
Dr. James Ross Rinker, a 1958 business administration graduate from Binghamton, New York, designated a $2.5 million estate gift for the addition to Best Hall of Sciences. The Rinker-Ross School of Health Sciences is named in his honor. His support, dedication and generosity will ensure a first-class learning environment to support all students of Trine University.

The John and Betty Parks Faculty Chair in Mechanical and Aeronautical Engineering
John Parks, a 1956 aeronautical engineering graduate, and his wife, Betty, from Snohomish, Wash., have made plans through a trust arrangement to establish a faculty chair for the Wade Department of Mechanical and Aeronautical Engineering Department upon their deaths. This named faculty chair will be awarded to a faculty member in the department to enhance the continuing educational needs of department faculty, provide meaningful reallife student projects and allow the University to attract and retain talented faculty.

The Steve and Wendy LaHood Endowed Business Professorship
Steve LaHood, a 1970 business administration graduate, and his wife, Wendy, of Sarasota, Fla., have made arrangements to create a named endowed professorship for the Ketner School of Business. This endowment will be funded with the proceeds from a paid life insurance policy that names Trine University as the sole beneficiary. The proceeds from the endowment will allow Trine to compete for and retain outstanding faculty members in this discipline.

Trine's long-term goal is to have $100 million in endowment funds to support students and faculty. As we continue along the path to maintaining excellence and creating educational pre-eminence, this must be a priority for the University. Peer institutions have created much larger endowments than Trine over many years, but through the already recognized success of the currently underway Invest in Excellence capital campaign, we will add approximately $20 million to our current total.

A charitable bequest is one or two sentences in your will or living trust that leave to Trine University a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I, [name], of [city, state ZIP], give, devise and bequeath to Trine University [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Trine or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Trine as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Trine as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Trine where you agree to make a gift to Trine and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

Personal Estate Planning Kit Request Form

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eBrochure Request Form

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