Love for Penn State and Philanthropy Grow Hand in Hand

Betty and Roger '48 Tobias smiling

Betty and Roger '48 Tobias

"He was your typical Penn State alum," Betty says of her husband, a 1948 graduate of Penn State, who attended two years at the Schuylkill campus, spent two years in the Army, then finished at University Park. "He was so involved and committed." Over the years, Betty found herself catching the fever. Today she even serves on the Penn State Schuylkill Advisory Board, a position that a Tobias has held since its inception 75 years ago.

Through Betty's love for tennis, she also found a way to make a difference for Schuylkill students. Years ago, disappointed by the state of the tennis courts, Betty asked Roger if they could make a donation for their improvement. Roger didn't live to see the upgrades, but Betty was thrilled with the results.

From there, her giving grew. Next, Betty funded landscaping around the courts; then she donated a clock in memory of Roger and his family. To make sure the courts are maintained, she has designated a gift in her will for their upkeep.

Perhaps most gratifying to her, however, have been her gifts to fund scholarships. "I feel so privileged to be able to do this," Betty explains. Each year, she cherishes the opportunity to read a letter from the recipient and to feel a small part of the student's life.

Roger was equally generous. Before he died, Roger set up a deferred charitable gift annuity to make lifetime payments to the couple. Since his death, Betty has been able to count on the regular payments, which she greatly appreciates. When she passes away, the remainder will fund scholarships on the campus.

"Betty Tobias is a truly special friend and supporter of Penn State Schuylkill," Chancellor Dr. R. Keith Hillkirk says. "Virtually everyone on the campus knows and loves Betty and has been touched by her generosity and kindness."

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.

Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.

eBrochure Request Form

Please provide the following information to view the brochure.