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Rensselaer: An Education for Life

Glenn Brown

Glenn Brown

"Rensselaer taught me how to live my life," says Glenn Brown '54. "I graduated from a class of 17, so high school was very easy for me. At RPI, I was forced to learn to budget my time, study, sleep less and decide which activities to do—and not to do. They used to call the school ‘RPI boot camp.' I learned if you want something, you've got to fight for it."

That education served Glenn well when less than a year after his graduation and commissioning, Uncle Sam needed more officers in Korea. He left his position at Kodak and reported for Officer Training School in Fort Sill. During that time, he applied himself to military studies in RPI fashion. Like nearly all of the 80-plus officers in his class, he had his bags packed for Korea when he received a call from the division commander telling him that, because of his excellent performance, he had been chosen to stay at the Artillery School and teach others what he learned. "That's when I realized my RPI Boot Camp training paid off!" Glenn says.

Following military service, Glenn returned to Kodak and active Army Reserve. Later in his career, he had a passion to have his own company, which turned out to be an enjoyable success as he immersed himself in long hours and a host of major volunteer opportunities. Over the past 60 years, RPI has been a prime focus for Glenn in volunteer leadership roles (recipient of the Distinguished Service Award, the highest award of the Alumni Association) and financial gifts (he's a member of the Livingston W. Houston '13 Society of Patroons).

Recently, he also invested in the Alumni Association Endowment Fund via a charitable gift annuity. "RPI is never off my volunteer horizon," Glenn says. "I've met so many wonderful and dedicated people there, from the RPI presidents to parents of our students. I always appreciated that RPI provided me with the confidence and know-how for success in my life; that made it easy to give back!"

You can benefit Rensselaer students and yourself by establishing a charitable gift annuity that allows you to make a gift to the university and receive fixed income. Please contact Art Tracy '92 MS at tracya@rpi.edu or 518-276-2561 or visit www.alumni.rpi.edu/giftplan to learn more.

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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.

Personal Estate Planning Kit Request Form

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