Newsletter Archives

Charitable Trust is a Win-Win for Professor & Wife

January - February - March 2007 Newsletter



Dr. Bhagawandas P. and Rajani Lathi

Dr. Bhagawandas P. Lathi, who retired a few years ago from a 39-year career as a professor of electrical engineering, is convinced that "Almost anyone in the Indian community can benefit from using a charitable remainder trust."

Charitable remainder trusts allow donors to sell stock, real estate and other assets tax-free, and to benefit good causes at the same time. Dr. Lathi and his wife Rajani, who live in Carmichael, a suburb of Sacramento, California, are co-trustees of their own charitable remainder trust which they established in 2001. They used the trust to sell the publishing rights to two of Dr. Lathi's books to Oxford University Press. "It was a win-win situation for everyone," he said.

Clearly two of the biggest winners were Hinduism Today and the India Development Relief Fund, which will receive equal shares of whatever remains in the trust after 20 years from the foundation date (that's 2021.) But the Lathis won as well. The use of the trust allowed them to bypass all tax on the $600,000 sale price for the publishing rights, to receive an immediate income-tax deduction, and to become the income beneficiaries of the charitable trust for 20 years. The income from the trust supplements their retirement plan.

"Hinduism Today has done a good job of defending the Hindu religion from outside attacks, as well as explaining it," Dr. Lathi said, describing why he chose the magazine to benefit from their trust. "We deeply value the Hindu tradition of letting people worship in their own ways for reaching the ultimate reality, eschewing proselytization and hegemony," he emphasized. "That's a message that Hinduism Today underscores." He bristles at the use of the word tolerance in interreligious discussion, declaring, "Tolerance implies you're putting up with an inferior position."

Of the two books with which the Lathis funded their trust, Linear Systems and Signals offers a 940-page development for undergraduates of signals as well as systems to process signals. This important area encompasses applications in such diverse fields as speech and image processing, satellite and space communication, biomedical systems, and aerospace, automotive and industrial applications. The Internet, cell phones, satellites and other electronic devices use signal processing routinely to transmit everything from text messages between teenagers to images from Jupiter.

Dr. Lathi, who is Professor Emeritus of Electrical Engineering at California State University, Sacramento, considered using a charitable remainder trust after attending a seminar on the subject and consulting with his attorney. "I suggest that people look at the charitable remainder trust very carefully," he urged. "It is a valuable philanthropic and estate-planning tool that has worked well for us."

The Hindu Heritage Endowment is pleased to enroll Dr. Bhagawandas P. and Rajani Lathi as members of its Legacy Sangha, which honors those who have included HHE in their estate plan. For information on bequests, charitable trusts and other estate-planning tools, contact Swami Shanmuganatha at 808-822-3012 extension 244 or hhe@hindu.org.

July to September Endowment Contributions

Kauai Aadheenam Monastic Endowment
Darmaguhan Satgunasingam US$75.00
Ajay & Lata Shah 5,000.00
Other Donations 29,427.01
Total 34,502.01
Iraivan Temple Endowment
Anonymous 200.00
Roger Brown 120.00
Sarojini Elangovan 101.00
Sivamayam Gunaratnam 145.00
Victoria Lynne Johnson 30.00
Diksha Katir 42.00
Ushadevi Katir 42.00
Nathan Mudrick 108.00
Pathmini Murugesan 10.00
S.V. Ravi Rahavendran 1,002.00
Sheela Rahavendran 151.00
Payal Sehgal 20.00
Jnana Sivananda 150.00
Rakesh Sood 125.00
Gunavinthan Siva Thirumalai 80.00
Thanavinthan Siva Thirumalai 40.00
Other Donations 27,634.00
Total 30,000.00
Kauai Aadheenam Annual Archana Fund
Yatrika Ajaya 53.63
Priya Alahan 1,000.00
Sivanathan Batumalai 13.42
Gunavadee Caremben 2.40
Somasundaram Caremben 2.40
Sukanta Caremben 2.40
Ravichandran Ceyon 82.00
Ashish Suresh Chitnis 925.00
Umaiyal Devasegayam Family 53.69
Tarakini Gunasegaran 47.45
Carmel V. Hawn 320.00
Roman Hunt 108.00
Victoria Lynne Johnson 10.00
Amooda Koothan 7.99
Saravan Koothan 3.20
Saroja Devi Manickam 4.50
Navukarasu Muthusamy 13.42
Pushparajan Nesaratnam 40.21
Kirtideva Peruman 9.57
Niroshnee Peruman 14.34
Mogan Ramasamy 275.00
Akileiswaran Samuthiran 12.10
Jayasutha Samuthiran 15.12
Bilvashri Seyon 27.13
Guhan Seyon 27.13
Premah Seyon 27.13
Jiva Shanmuga 100.00
Devaladevi Sivaceyon 10.77
Nutanaya Sivaceyon 10.77
Patudeva Sivaceyon 10.77
Hemavalli Sivalingam 2.44
Kanta Ruban Sivalingam 2.44
Rohini Sivalingam 2.44
Potriyan Sivanathan 5.38
Total 3,242.24
Hinduism Today Lifetime Subscription Fund
Subramaniam & Family 94.95
Sujeet Akula 160.00
Brian Breiling 240.00
Ravichandran Ceyon 41.00
Ashish Suresh Chitnis 1,000.00
Maruthu Pandian Darmalingam 140.75
Carmel V. Hawn 320.00
Isanah Kameni 27.00
T. Iswarah Kumar 71.00
Shankar & Sri Mallampalli 800.00
Dimple Patel 800.00
Shanta Devi Periasamy 90.00
H.K.S. Rao 800.00
Charles & Jan Roberts 30.00
Jacob Russell 240.00
Sothinathan Sabesan 240.00
Irene Scott 269.00
Adi Seyon 54.26
Nalayini Shanmugarajah 240.00
Om Prakash Sharma 800.00
Sivakanthan Sivanathapillai 800.00
S. & Santhi Subramaniam 217.04
Shreekant Tripathi 800.00
Rakesh Vaidyanathan 160.00
Total 8,435.00
Hindu of the Year Fund
Anonymous 10.33
Boys School for Iraivan Priesthood
Maruthu Pandian Darmalingam 13.50
Bala Sivaceyon 43.08
Total 56.58
Kauai Aadheenam Matavasi Medical Fund
Maruthu Pandian Darmalingam 13.50
Sarasvathi Iswarapatham 40.71
Arul Karttikeya 350.00
Pathmini Murugesan 10.00
Gowri Nadason 82.52
Vayudeva Varadan 72.00
Other Donations 6,300.00
Total 6,868.73
Iyarappan Temple Trust
Nathan Mudrick 108.00
Tirunavukkarasu Nayanar Gurukulam
Muthukumar Jeyabalan 30.00
Muthu Kumar 40.00
Total 70.00
Kumbhalavalai Ganesha Temple Endowment
Manoharan Navaratnarajah 75.00
Malaysia Hindu Renaissance Fund
Devdatta & Swati Mhaiskar 12.63
Hinduism Today Production Fund
A. Melwani 1,000.00
Murli Melwani 1,000.00
Devdatta & Swati Mhaiskar 12.62
Total 2,012.62
Hindu Orphanage Endowment Fund
Adi Alahan 14.00
Anil Anand Badhwar 72.40
Michael Mrakovcic 14.29
Natraj Narayanswami 45.00
Sai Pavuluri 18.75
Anonymous 10.34
Alex Ruberto 75.00
Payal Sehgal 20.00
Rodney & Ilene Standen 30.00
Raja Vishnu 22.00
Total 321.78
Hindu Education Endowment
Natraj Narayanswami 20.00
Hindu Press International Endowment Fund
Hiranya & Saraswathi Gowda 21.00
Baleswary Selvarajah 5.00
Total 26.00
Loving Ganesha Distribution Fund
Eric Jautee 50.00
Devdatta & Swati Mhaiskar 12.62
Manoharan Navaratnarajah 75.00
Gassa Patten 1,640.00
Total 1,777.62
Manitha Neyam Trust Fund
Richard Ksieniewicz 35.00
Bala Sivaceyon 43.08
Total 78.08
Spiritual Park of Mauritius Endowment
Devdatta & Swati Mhaiskar 12.63
Positive Discipline Endowment
Vinaya Alahan 4,000.00
Devdatta & Swati Mhaiskar 12.63
Total 4,012.63
Kauai Aadheenam Religious Art and Artifacts Fund
Rajadeva Alahan 153.00
Murugan Temple Pillaiayar Shrine Fund
Pathmini Saravanapavan 50.00
Thank You Bodhinatha Fund
Anonymous 20.00
Hotranatha Ajaya 51.00
Durvasa Alahan 100.00
Marlene Carter 600.00
Ashish Suresh Chitnis 2,001.00
Shyamadeva Dandapani 101.00
Tina Desai 101.00
Chellappa Deva 51.00
Amarnath & Latha Devarmanai 324.00
Lila Shakti Devi 101.00
Toshadeva Guhan 108.00
Shama Kumaran 51.00
Shankar & Sri Mallampalli 504.00
Sadhunathan Nadesan 1,008.00
Manoharan Navaratnarajah 150.00
Janaka Param 108.00
Shanta Devi Periasamy 1,245.00
S.V. Ravi Rahavendran 501.00
Alex Ruberto 45.00
Aran Sambandar 51.00
Payal Sehgal 20.00
Dasa Sivam 108.00
Jutikadevi Sivaraja 40.00
Devi Tandavan 1,008.00
Jeremiah Umakanthan 126.00
Vayudeva Varadan 161.00
Total 8,684.00
Mathavasi Travel Fund
Rakesh Sood 125.00
Saivite Hindu Scriptural Fund for the Visually Impaired
Natraj Narayanswami 25.00
Alex Ruberto 45.00
Total 70.00
Sri Chandra Madhab Debnath Endowment
Shyamal Chandra Debnath 200.00
Murugan Temple Yalpanam Festival Fund
Pathmini Saravanapavan 50.00
Tiptur Shiva Temple & Youth Hostel Fund
Payal Sehgal 20.00
Kerala Temple Trust
Sai Pavuluri 18.75
Kapaleeshwara Temple Orphanage
Kumar Bhagavatula 50.00
Prasad Krishnan 7.50
Richard Ksieniewicz 35.00
Auslin Mangal Lawrence 150.00
Devdatta & Swati Mhaiskar 12.62
Michael Mrakovcic 14.28
Jayanthi Vasudevan Naiker 300.00
Natraj Narayanswami 20.00
Total 589.40
Manjung Hindu Sabha Orphanage Fund
Muthukumar Jeyabalan 110.00
Muthu Kumar 40.00
Michael Mrakovcic 14.28
Total 164.28
Pazhassi Balamandiram Orphanage Fund
Michael Mrakovcic 14.28
Natraj Narayanswami 20.00
Total 34.28
Karnataka Temple Development Fund
Ishani Chowdhury 31.00
Sai Pavuluri 18.75
Total 49.75
Sri Ganesha Hindu Temple of Utah Endowment Fund
Sukesh Parasher 50.00
Sai Pavuluri 18.75
Total 68.75
Swami Vipulananta Childrenís Home Endowment
Michael Mrakovcic 14.29
Hinduism Today Complimentary Subscription Fund
Anonymous 10.33
Himalayan Academy Book Distribution Fund
Devdatta & Swati Mhaiskar 12.62
Kauai Aadheenam Yagam Fund
June P. DeLuca 101.00
Victoria Lynne Johnson 10.00
Vijay N. Samant 100.00
Sivakumar Saravan 500.00
Payal Sehgal 20.00
Total 731.00
Yogaswami Hindu Girlsí Home of Sittandy Endowment
Anonymous 33.00
Adi Alahan 6.00
Maruthu Pandian Darmalingam 13.50
Lila Shakti Devi 150.00
Mary Beth Harnett 1,500.00
Muthukumar Jeyabalan 90.00
Muthu Kumar 40.00
Ripla & Gaurav Malhotra 105.50
Devdatta & Swati Mhaiskar 12.63
Michael Mrakovcic 14.29
Natraj Narayanswami 50.00
Ananthakumar Renganathan 50.00
Jutikadevi Sivaraja 309.00
Silas H. Zirkle 375.00
Total 2,748.92
Siva Poomi School Trust
Muthu Kumar 40.00
Yogaswami Hindu Boysí Home Fund
Jnanideva Cevvel 530.00
Maruthu Pandian Darmalingam 13.50
Mary Beth Harnett 1,500.00
Muthukumar Jeyabalan 90.00
Muthu Kumar 40.00
Ripla & Gaurav Malhotra 105.50
Michael Mrakovcic 14.29
Ananthakumar Renganathan 50.00
Dharmalingam Siddhan 150.00
Total 2,493.29
Total Contributions $107,969.54
Funds at Market Value, Sept. 30, 2006
Total Endowment Funds $7,250,988.41
Total Pooled Income Funds $211,456.23
Grand Total $7,462,444.64

MISSION STATEMENT

Hindu Heritage Endowment is a publicly supported, charitable organization recognized as tax exempt by the IRS on April 22, 1994. Employer ID 99-0308924. Founded by Satguru Sivaya Subramuniyaswami, its philanthropic mission is to provide secure, professionally managed financial support for institutions and religious leaders of all lineages of Sanatana Dharma.

PROFESSIONAL ADVISORS

Halbert/Hargrove, Investment Counsel; Sonoda & Isara, LLP, CPA. HHE is a member of the Council on Foundations, an association of more than 2,000 foundations which interprets relevant law and management and investment principles, and of the National Committee on Planned Giving, the voice and professional resource for the gift planning community.

I want to participate. Where should I Send My Donation?

You may send your gift to an existing fund, create a new Endowment or request information through the address below.

Donations may be made online at www.hheonline.org or use the HHE tear-out card in the HINDUISM TODAY magazine to join our family of benefactors who are Strengthening Hinduism Worldwide. Thank you.

 
Calendar

Murugan Temple of North America Puja Fund

To insure the continuation of daily pujas at the Temple.

Calendar

Manjung Hindu Sabha Orphanage Fund

Provides support to this orphanage in Sitiawan, Malaysia

Calendar

Manitha Neyam Trust Fund

Supports the Sivapoomi Elders Home, a home for the elderly in Kondavil, Sri Lanka.

Calendar

Loving Ganesha Distribution Fund

To distribute free copies of Loving Ganesha around the world

Planned Giving Guidance

Estate Planning Encouraged in the USA, Mauritius & Malaysia

Use Giving Assistant to save money and support Hindu Heritage Endowment