Skip to Content
Paying It Forward
"Saint Peter's has changed [our students'] lives; this is why I give."
Since 1981, Saint Peter's University President Eugene J. Cornacchia, Ph.D., and his wife, AnnMarie, have witnessed firsthand the impact that a Saint Peter's education has on our students. As a result, they recently pledged a transformational $250,000 gift to the University—their largest philanthropic commitment to any organization including Saint Peter's.
"I have seen thousands of students who thirst for knowledge and thirst to educate themselves," said Dr. Cornacchia. "Saint Peter's has changed their lives; this is why I give."
The life-changing effect an education has on students and the momentum the University has built from the success of the last capital campaign, Students at the Center, fueled the Cornacchias' decision to give. In fact, their blended cash and planned gift has inspired others to give at their highest level as well, allowing the University to do what it does best: graduating students for careers and purposeful lives.
"This whole process takes discernment and faith. Have faith and decide to give now. Don't overthink it," said AnnMarie, expressing confidence. "I have the utmost faith in the future of Saint Peter's."
The couple's everyday and future commitment shows that they lead by example. In addition, they are also following in the footsteps of inspirational Jesuits and others who founded and supported the mission of the University for over 150 years. They believe in paying it forward and hope that others consider the transformational effects their gifts can have on the lives of Saint Peter's University students.
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 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 Saint Peter's 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 Saint Peter's University as a lump sum.