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While teaching as the Library Media Specialist in a middle school on Long Island, Janet and her husband, City of New York Fire Department Lt. Peter J. Farrenkopf, dreamed of retiring somewhere pastoral, yet exciting. They realized their dream in 2005, when they bought an 1851 farmhouse on the west bank of the Hudson River, opposite the CIA campus. Together they enjoyed many visits to campus, trying out the restaurants and enjoying the energy and enthusiasm of the students. In 2009, Peter passed away at age 56 from a 9/11 related illness, and Janet wanted a meaningful way to memorialize him. So the "FDNY Lt. Peter J. Farrenkopf Scholarship" was born.
Janet and her family and friends make the trip to campus often for evening events, classes, and special meals. As engraved on her commemorative brick on the vestibule wall of the Student Commons, this "Forever Foodie" is thrilled to be able to support students far into the future with this scholarship, which will be endowed through her estate. And because she wants to help current students as well, she donates an annual "Peter J. Farrenkopf Scholarship" through the Run For Your Knives 5K Walk/Run, held on campus every autumn during Alumni Homecoming.
Janet says, "Having a marvelous resource like the CIA so close by is just another reason to love living in this beautiful region."
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 CIA 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 CIA as a lump sum.