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Planned Giving

Patricia Grilione Creates an Endowment for Science

Patricia Grilione Patricia Grilione, a third generation native of Fresno County received her baccalaureate and master's degrees in biology at Fresno State College. She earned her doctorate degree in Microbiology at University of California, Davis, in 1966. In 1966, when the job market for new Ph.D.'s was grim and Grilione wished to return to the CSU system, she obtained a two-year position as a temporary, full-time assistant professor at San Jose State. That began her 36-year teaching and research career at SJSU.

Grilione's specialty, microbiology with an ecology emphasis, permitted her to combine fieldwork with laboratory studies. The field aspect was important as Grilione loved the outdoors. Her favorite retreat was hiking the high Sierra peaks. Today, she is an avid cyclist and rose gardener.

Grilione has created an endowment at SJSU in memory of her parents, and will add to it, after she's gone, through her estate plan. The endowment has two purposes:

First, to support activities in the Biological Sciences Department not funded by the State of California and that are beneficial to all biology faculty, staff and students.

Second, the endowment honors Grilione's parents, Peter and Edna. Both were young adults during the Great Depression and could not afford college. Peter had an eighth grade education and Edna completed high school. They made sure their only child, Grilione, got a college education. The endowment is Grilione's way to express her gratitude and honor her parents for all they did. She thinks of it as "vicariously sending her parents through college."

Grilione encourages fellow SJSU supporters to establish an endowment and/or a bequest and share in the joy that she has had in giving back to SJSU.

For more information on how to set-up an endowment or leave a gift to SJSU in your estate plan, contact Office of Planned Giving at 408-924-1473 or planned.giving@sjsu.edu.

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A charitable bequest is one or two sentences in your will or living trust that leave to San Jose State 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, [name], of [city, state, ZIP], give, devise and bequeath to San Jose State [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 SJSU 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 gift 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 receive an immediate federal income tax charitable deduction. 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 SJSU as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. 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 SJSU 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 SJSU where you agree to make a gift to SJSU 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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