Charitable Trust is a Win-Win for Professor & Wife
January - February - March 2007 Newsletter
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.
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