It's a "Win-Win"

Raven ’66 and Marv Rudnitsky ’64 smiling

Raven ’66 and Marv Rudnitsky ’64

Raven '66 and Marv Rudnitsky '64 have a motto they love to share: "Give until it feels good!" This sentiment rings true to them because their own lives have been enriched by the experience of setting up the Marvin J. and Carolyn W. (Raven) Rudnitsky Undergraduate Scholarship at their beloved alma mater, Penn State.

"It's one of those wonderful times in life when it's a win-win," Raven says. "Everybody wins-the students, the institution, and certainly our family."

Marv, an attorney with Rudnitsky and Hackman, and Raven, a family therapist, met at the University Park campus as undergraduates. Penn State was the only school to which Marv applied, while Raven was following a strong family tradition that started more than 100 years ago when her grandfather, William Wray, attended Penn State and played football here. In fact, Raven knew the legend of the Nittany Lion and all the football cheers long before she knew any nursery rhymes!

"Going to Penn State, having an incredible four-year experience there, and meeting the love of my life...it's very, very special," Raven says.

Marv could not agree more, and he attributes these wonderful experiences to the foresight and generosity of those who came before him. "I wouldn't have graduated but for the scholarships I had all along, throughout college and then in law school at the University of Pittsburgh," he explains.

Now the Rudnitskys are able to see their own generosity at work helping students to achieve their full potential. Last year they met their most recent scholarship recipient. "I was blown away by her," Raven says. "We were so honored to have been able to help her in some small way on her personal journey."

"Helping to provide educational experiences at a wonderful institution like Penn State for young people who may not otherwise be able to afford them is a joy-an absolute joy and privilege."

The joint scholarship the couple established in 2002 in the Colleges of the Liberal Arts and Education is just one of the ways the Rudnitskys give back to Penn State. Both Marv and Raven love working together on the Liberal Arts Development Council. And they have ensured a lasting legacy with the University by naming Penn State in their will and in a testamentary charitable lead trust, which will provide funds to their scholarship for several years. "We hope the continuing stream of money to fund scholarships in these schools will help others to have a better life," Marv says.

Today the couple lives for home football games at Penn State and are very active politically and in their United Church of Christ congregation in Selinsgrove, Pennsylvania. They love spending time outdoors, traveling, and being with their three daughters, sons-in-law, and five grandchildren, all of whom live within seven minutes of their house.

A charitable bequest is one or two sentences in your will or living trust that leave to The Pennsylvania State 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 give to The Pennsylvania State University, a nonprofit corporation currently located at c/o Office of Gift Planning, 212 The 103 Building, University Park, PA 16802, 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 Penn State 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 Penn State 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 Penn State 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 Penn State where you agree to make a gift to Penn State 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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