Penn State alumnus Bill Lane, who earned a bachelor's degree in business in 1975 and a master of public administration degree in 1979, spent most of his junior year studying abroad at the University of Cologne in Germany—and that experience is still guides his actions today.
"The program changed my perspective," he says. "I realized you had to embrace international commerce and not hide from it."
After a nearly forty-year career at Caterpillar, he retired as senior director of global government and corporate affairs in 2016. Lane learned that for U.S. companies to succeed globally, they needed to understand the values and cultures of the countries where they operated. Now, he provides that same understanding for today's business students.
Through the combination of a planned giving vehicle—known as a charitable remainder unitrust (CRUT)—and annual cash gifts, Lane and his wife, Jan, are able to accomplish both a philanthropic goal and a personal financial goal simultaneously.
The CRUT provides the Lanes with a dependable source of income each year for the rest of their lives, plus some support for their heirs. At the end of their lives, the balance in the trust will go to the William C. and Janet P. Lane Global Perspectives Endowment, which supports international experiences in nontraditional destinations. The Lanes have made the decision to early-activate this gift, so they can support students during their lifetime.
To learn how a CRUT could offer you and your family added security, please contact Michael J. Degenhart at 888-800-9170 (toll free) or firstname.lastname@example.org.