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Making a Difference

Ruby and Alan Greenstein

Ruby and Alan Greenstein

We completed our Renaissance at Rensselaer Campaign on June 30 and it was a resounding success! I am pleased to report that more than 400 of you used one or more of the concepts routinely addressed in this newsletter to contribute a total of more than $150 million to the campaign. Approximately $64 million is currently benefitting Rensselaer students and the remaining $90 million will benefit them in the future.

There are many compelling stories behind these numbers—stories about real people making a difference in the lives of Rensselaer students. I'd like to share one such story with you. It is ultimately a story of promise and hope, but it had its origin in sadness for one family.

A Story of Hope for the Future
Alan Greenstein graduated from Rensselaer in the 1970s with two degrees. Tragically, both he and his wife, Ruby, were diagnosed in 1995 with different illnesses that would eventually take their lives. Prior to her death in 2005, Ruby made plans through her estate to fund a permanent scholarship in Alan's memory for biomedical engineering students at Rensselaer. This was the same field of study that had prepared Alan so well for a career of service with the Veterans Administration and the U.S. Food and Drug Administration.

The first student to benefit from Alan's scholarship graduated from Rensselaer in May 2009 and the second one will graduate in May 2010. Alan's sister and mother were thrilled when one of the Greenstein scholars contacted them. "His sentiments were beyond thoughtful and truly captured the reasons why Ruby established the scholarship," his sister recalls. "We were all so touched." Alan's nephew mentioned the scholarship to his high school guidance counselor who subsequently inquired as to the details of the scholarship.

Certainly, the Alan Greenstein Scholarship has already made a big difference in the lives of two Rensselaer students. Since Alan and Ruby had no children, the Greenstein Scholarship will serve as a living legacy through the lives and societal contributions of the future generations who will benefit from their generosity.

You, Too, Can Help Rensselaer Students
Contact Art Tracy '92 MS at 518-276-2561 or to learn how you can make a difference in the lives of Rensselaer students by funding a scholarship. There are many options available to you.

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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."

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

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the price a willing buyer and willing seller can agree on

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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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