Grateful for tuition assistance he received when he was a student at NYU, Paul Einhorn (STERN ’39) and his wife Gloria have long desired to establish a permanent scholarship fund at the Stern School. "Education is the greatest gift," Paul says. "I wanted to pay NYU back for the education I received and help students obtain the same advantages I experienced."

For the Einhorns, the chance to give back finally arrived—on a scale much greater than they had imagined possible. Their charitable goals and financial circumstances, combined with the tax laws, presented an opportunity in the form of a charitable remainder trust (CRT). Paul faced significant capital-gain tax if he sold his highly appreciated stock. Instead, he contributed the stock to the CRT, avoiding the capital gain, and the CRT became a source of income for Paul and Gloria. Ultimately, the trust assets will create the scholarship fund they had dreamed of.

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