Albert Brown, CST '64

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When the time came for Albert Brown, CST  '64 to choose a college, he realized his options were few. While in high school, "sports and girls took precedence over studies," he says. At home, his family was struggling financially.

Temple took a chance on him.

"I entered Temple not knowing what to study or whether I belonged at this or any university," he says. Chemistry was a required subject, and Brown approached it with trepidation. But a series of remarkable teachers changed his mind and he graduated with a bachelor of science in chemistry. After Temple, he interviewed a number of companies for a job and considered himself lucky to be hired by Rohm and Haas, the Philadelphia-based manufacturer of specialty chemicals.

"Being exposed to a grand array of professors at Temple prepared me not only for a life in chemistry but for life in general," he says.

"Life in general" included his wife, Marie B. Koals ‘63, who earned a bachelors and masters in education at Temple. "Life in chemistry" meant more than simply a solid grounding in the sciences. Temple also prepared Brown to compete favorably with colleagues who held PhDs. "I dug in and tried harder. It took me years of hard and successful research, but I was finally treated as an equal," he says. "Temple armed me well to compete in an intense intellectual environment."

A specialist in polymer chemistry, Brown was fortunate to find himself in the middle of many successful product developments. Promotions followed in rapid succession. Toward the end of his career, he was made Corporate Fellow—a position held by only two other people in the Rohm and Haas's 100-year history.

Looking back, Brown realizes just how close he came to missing out on a successful career because of his family's financial constraints. "I didn't want that to happen to anyone else, so I established a scholarship [at the College of Science and Technology]," he says. "Our kids are running up huge debt trying to get a college education. It's not good for their future, and it's not good for the country."

His advice to fellow alumni: "The finest gift you can give someone is the gift of education. C'mon folks, shake a few bucks loose for Temple students. We'll all be better for it."

NOTE: Endowed scholarships are vitally important to the future of Temple University and its students. Along with outright gifts, planned gifts such as charitable gift annuities and bequests are excellent funding vehicles.

A charitable bequest is one or two sentences in your will or living trust that leave to Temple 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 Temple University, a nonprofit corporation currently located at 1801 N. Broad Street Philadelphia, PA 19122, 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 Temple University 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 Temple University 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 Temple University 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 Temple University where you agree to make a gift to Temple University 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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