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Rensselaer Education Helps in Multiple Career Paths

DavidsonShortly after graduating from Rensselaer Polytechnic Institute in 1968, Dr. Steve Davidson decided engineering would not be his occupation. But the Rensselaer experience informed his career nonetheless.

The lessons Davidson took from Rensselaer proved invaluable in his second career as a psychologist and his third career as a financial planner.

"I think the discipline involved in getting a degree in aeronautical engineering at RPI—the rigor of the education—for me left a lasting sense of self-confidence that I could tackle anything," says Davidson. "Nothing was impossible."

The disciplined thinking he learned at Rensselaer came in particularly handy during his career as a financial planner, and overall the education helped teach him to be objective, to look at data and evidence, and to analyze situations, he says.

Estate Gift From Loyal Donor
Davidson has been a loyal donor to Rensselaer for decades and decided to make a gift to the school through his estate in 2011. Estate gifts are a way to make a gift now without it costing anything today.

"It's hard to articulate, but I know that the education I received at RPI provided a foundation for me in everything I've done since, and I would not be where I am today—very happy and successfully retired after several careers—without that education," he says. "I definitely want to give back."

Davidson also holds master's and doctorate degrees, but he does not make contributions to those schools because he "just got degrees there." RPI provided the foundation that served him well throughout his careers, despite not being in engineering, he says.

Fulfill Rensselaer's Vision
Rensselaer graduates have been applying science to the common purposes of life since 1824. Contact Art Tracy '92 MS today at 518-276-2561 or tracya@rpi.edu to explore how you can partner with Rensselaer in fulfilling this timeless vision.

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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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