Self-Starter Elyse Ruth (CLA ’71) Creates Scholarship for Non-Traditional Students

Elyse Ruth

Elyse Ruth

By Sara Curnow Wilson

When Elyse Ruth was a junior at Temple in 1969, she studied abroad at the London School of Economics. Because no financial aid was available, she had to find alternate means of funding her studies, including a job in a pub.

Her wages? One pound. Or $2.40.

"Not per hour. That was the entire shift. One pound," she laughs.

Ruth looks back on her time abroad as one of the most exciting parts of her education. She still remembers receiving her letter of admission from the London School of Economics.

"When I got the letter saying I'd been accepted, oh, I was flying," she says.

Thanks to Ruth, future Temple students will have a similar feeling. Through a gift in her will, she plans to create an endowed scholarship, covering not just one year but all tuition costs for selected students.

Ruth could have used such help herself. Because she did not start at Temple straight from high school, she missed out on some scholarship opportunities. She was determined to attend college full-time however, and took loans and held jobs to pay her own way.

When setting up her scholarship, it was important to Ruth that she help people like her who had been away from school for a significant amount of time.

"I really want to help the student who had a significant gap in time between high school and college, or needed to take a break from college for an extended period," Ruth says. "If it will get them to select Temple rather than someplace else, that's terrific."

Ideally, she explains, her legacy gift will not only help others receive a college degree, but also put them in the position to donate as well.

"The more people I can help, the better. I hope that it will sort of cascade and everybody who I help will in turn want to help Temple."

Discover Your Legacy Gift

Like Elyse Ruth, you too can leave a legacy gift to Temple. Contact Tom Yates at 215-926-2545 or to learn more today.

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 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 Temple University 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 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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