Planned Giving

Growing Endowments, One Year at a Time

Arnold and Rosalind Mytelka smilingArnold Mytelka was a member of the Ramapo College Board of Trustees from 1975 to 1980 and Chairman from 1979 to 1980. In 1983, he established a scholarship at Ramapo College in his mother's memory and in 2006 created an award in memory of his father.

Over the years, Arnold Mytelka has made annual gifts that have increased the combined endowments by 75 percent over the initial donations. In 2013, the endowments provided $2,775 in scholarship awards.

Both of Mr. Mytelka's parents were educators in the Jersey City public school system: his mother, Jeannette Krieger Mytelka, taught seventh- and eighth-grade English and his father, Herman D. Mytelka, was a math teacher at James J. Ferris High School and was principal of Dickinson High School.

"Before others recognized the need, my mother introduced African American writers and poets in her classroom," says her son, Arnold Mytelka. "She was an excellent, professional teacher. Many teachers had discipline problems - my mom never did."

At his mother's death in 1983, Mr. Mytelka searched for the most appropriate way to memorialize Jeannette's love of education and teaching. "I thought that a scholarship at Ramapo would be the most effective," he explains. "It's the kind of thing that my mom would have been pleased to have set up."

The Jeannette Krieger Mytelka Scholarship is awarded to academically outstanding seniors with financial need who have completed three years at Ramapo College.

Mr. Mytelka also established a scholarship in memory of his father. The Herman Mytelka Scholarship recognizes entering Ramapo College freshmen from any public high school in Jersey City, with preference given to students from Dickinson High School.

A charitable bequest is one or two sentences in your will or living trust that leave to The Ramapo College Foundation 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 The Ramapo College Foundation, a nonprofit corporation currently located at , 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 The Ramapo College Foundation 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 The Ramapo College Foundation 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 The Ramapo College Foundation 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 The Ramapo College Foundation where you agree to make a gift to The Ramapo College Foundation 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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