Gift Planning

Broadening Horizons for the Next Generation

Penn State campus

Gift Planning

Broadening Horizons for the Next Generation

Cynthia Bloom

Through her giving, Cyndi Bloom is honoring both her late husband, Gil Dube, and their shared passion for education.

By making a gift to the University Libraries through her revocable trust, Penn State alumna and supporter Cynthia "Cyndi" Bloom ('68) has solidified her commitment to enhancing students' understanding of the world while honoring her late husband, Gilbert "Gil" Dube.

"Gil and I shared a love of education and its essential role in opening the doors of knowledge and opportunity," Cynthia says. "His passion for learning always inspired me, and I hope that this support will inspire current and future students as well."

Cyndi has generously named Penn State as beneficiary of a percentage of her estate. Having recently established the Bloom-Dube Endowment for U.S. Multicultural and Multiracial Collections at the Penn State Libraries—which will support the University Libraries in procuring materials and collections relating to Native American history, African diaspora, social justice, equity, and more—Cynthia has designated funds from her trust to strengthen the endowment.

"I want to contribute to fostering an educational environment where people are better equipped to listen to and understand one another," Cyndi explains. "The Penn State Libraries are an outstanding resource to thousands of students, faculty, and researchers who are eager to broaden their perspectives, and this endowment will help them in their pursuits."

Cyndi's Penn State story began in 1964 when she enrolled as a first-year student. As she worked on obtaining her Bachelor of Arts degree in broadcast journalism, Cyndi found herself frequenting the Pattee Library for study and research. She eventually began working part-time at the library. As she gained a new perspective on the value of having access to high-quality, expansive collections of knowledge, her love of education was cemented.

After graduating from the University in 1968, Cyndi launched a successful career that included roles in marketing, government relations, human resources, and higher education. Her professional and personal pursuits eventually brought her to the Boston area, and that's where she met the love of her life.

Gil and Cyndi enjoyed over 43 years of marriage. Gil devoted his life to education, obtaining four academic degrees and serving as a professor of management at Cambridge College in Harvard Square. Like Cyndi, he was a staunch champion of diversity, equity, and inclusion.

Following Gil's passing in 2019, Cyndi was motivated to honor her husband by advancing student access to education, knowledge, and research—opportunities close to both of their hearts.

Cyndi further extended her generosity in 2020 by giving $5,000 dollars to support University Libraries' #GivingTuesday fundraising campaign to acquire the African Diaspora 1860-Present Collection. She encouraged her friends and family to join her in making a gift to honor Gil, and 28 people generously responded.

"The support that came through on #GivingTuesday was nothing short of overwhelming," Cyndi says. "I know that Gil would be an ardent supporter of the collection and seeing so many people honor his memory made me very proud to be a part of the Penn State community."

If you're interested in joining dedicated Penn Staters like Cyndi in supporting students, please contact the Office of Gift Planning at Penn State at 888-800-9170 (toll free) or giftplanning@psu.edu to discuss your options for making a future gift.

A charitable bequest is one or two sentences in your will or living trust that leave to Penn 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 Penn 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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