Supporting the Faculty, Shaping the Future

Peter '68 and Angela Dal Pezzo smiling

Peter '68 and Angela Dal Pezzo

Establishing a "cycle of excellence" was Peter '68 and Angela Dal Pezzo's intention when they endowed the Peter and Angela Dal Pezzo Department Head Chair in Industrial and Manufacturing Engineering.

"By supporting faculty, you have the opportunity to shape the future of a department," Peter explains. "Our most rewarding experience has been seeing the Department of Industrial and Manufacturing Engineering (IME) use the funds to develop into a more global, vibrant place of instruction."

The Dal Pezzos' own international perspective grows out of lives that have spanned continents and industries. After graduating from Penn State, Peter began his career at Bethlehem Steel, and he is now retired from his role as a vice president of global security for technology manufacturer Pelco. Angela, a native of Switzerland, has a degree in international business and held positions at Pelco as well. Today, their travels take them not only overseas, but also to University Park, where Peter volunteers his time and expertise as a member of the IME department's Industrial and Professional Advisory Council.

"Through my involvement with the Council, I became impressed with the department's vision for its future and its commitment to creating global engineers-graduates with the skills and understanding to contribute on an international level," Peter says. "Angela and I wanted to help the department fulfill that vision."

The Dal Pezzos' gift to endow the Industrial and Manufacturing Engineering department head chair was the couple's first major gift to the department and was instrumental in recruiting Dr. Paul Griffin to the position in 2009. "It's a tough time to be a department head, with enrollment up and resources down," says Dr. Griffin, the current Peter and Angela Dal Pezzo Department Head Chair of Industrial and Manufacturing Engineering, who came to Penn State from Georgia Tech. "I knew that with the resources of the Dal Pezzo Department Head Chair, I would be able to create opportunities for our students and faculty that wouldn't otherwise be possible."

With funds from the endowment, Dr. Griffin has supported top graduate students and seeded new research ideas, including an undergraduate capstone project focused on energy-efficient manufacturing. Additional gifts from the Dal Pezzos have established five trustee scholarships in the department and launched the Global Manufacturing and Services Laboratory, where students collaborate on team projects with peers at international universities.

"We are so interconnected today, and the greatest gift that you can give someone is the education that will enable them to succeed in the global economy," Angela says. "We want Penn State graduates to have the hands-on experience, the exposure to well-known faculty, the understanding of the latest technology, that will help them to go out, do well, and support the next generation-many generations-of industrial engineers. Penn State has a great tradition in this field, and we want that to continue."

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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