Ed and Maxine Kristovich
How far is it from glamorous 1940s Hollywood to setting up a charitable remainder unitrust today at the PSU Foundation?
For Ed and Maxine Kristovich, a half century of love and marriage began on a blind date in 1943. Maxine was a dancer at Earl Caroll's Vanities, a premier supper club at Sunset and Vine that featured "the 60 most beautiful girls in the world." Ed was in Army Air Force flight school. Soon after that first date, Maxine was invited to entertain the troops overseas. Fearing he would not get out of school in time to follow her, Ed immediately proposed marriage.
On the next day, Ed and Maxine learned that her father never intended to permit her to travel. Ed used to joke about being "tricked" into marriage, and was proud to be "an old rock hound" who spent his life "with the best find of his life."
After the war, Maxine, whose career included dancing in the movies, gradually turned her attention to raising their son, Jeffrey. Meanwhile, Ed began a long career with a Southern California telephone company, first as an installer and then as a manager. In 1954, Oregon's Agate Beach convinced Ed that he should become a "rock hound", an interest he spent his life devoted to.
After thinking about what they might do for college students in Oregon, Ed and Maxine set up a substantial charitable remainder unitrust to fund an endowed geology scholarship at PSU. Ed has passed away, but Maxine enjoys living in Hillsboro to be closer with their grandchildren.
To Maxine, making a gift of highly appreciated stock for the security of income for life at a rate higher than available from a bank was simply common sense. Ed liked funding the trust with appreciated assets because it transformed their capital gains tax liability into a charitable investment in higher education.
So from Hollywood, here's to future geology students at Portland State University!