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A Gift of Lasting Value

Chiming Tse

As far as Chiming Tse '83 is concerned, his Rensselaer education prepared him not only to secure a position in management systems but also to solve problems in all other areas of his life. "The training I received went far beyond benefiting my career. I learned an entire set of mental problem-solving skills that I can apply to life in general. Best of all, I gained confidence. I know I can find a solution to whatever problem I face."

By the time he graduated from high school, Mr. Tse felt well grounded in the liberal arts. He was eager to focus on practical problem solving, on "doing" rather than "debating." He wanted to learn computer applications for business, and Rensselaer was the perfect place to do that. The Institute's hands-on approach to learning meant that after four years of study, he was well prepared to work. In 1983 Tse joined the Bank of New York, putting his degree in management systems to immediate use developing computer applications.

Explaining that he and his wife Jennifer are "great believers in education," Chiming stresses, "Rensselaer gave me something of lasting value. I have always wanted to give back." In addition to being a loyal supporter of the Annual Fund, Mr. Tse has increased his yearly gift to form the Chiming Tse '83 Scholarship so that "someone else can have the opportunity to get a Rensselaer education. I feel great about this scholarship," Tse says. "The gift is specific. I know exactly what it's accomplishing, and I find that very gratifying."

The Tses have adopted a smart approach for all of their charitable giving: "We used appreciated securities for our gifts to Rensselaer," says Jennifer. "If we had sold the stock and donated cash, we would have owed capital gains tax. Giving securities maximizes your deduction without increasing your tax liability," explains Chiming.

"At Rensselaer I was trained to look at a problem and break it down. This thinking process is one of the biggest benefits of my education. Today the Institute is at the forefront of new forms of engineering, continuing to produce people who get the job done."

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A charitable bequest is one or two sentences in your will or living trust that leave to Rensselaer Polytechnic Institute 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 give to Rensselaer Polytechnic Institute, a nonprofit corporation currently located at 110 8th St., Troy, NY 12180-3590, or its successor thereto, ______________* [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 Rensselaer 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 Rensselaer 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 Rensselaer 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 Rensselaer where you agree to make a gift to Rensselaer 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.

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