“My education was made possible by the financial generosity of those who went before me. I wanted to support MIT because it supported me,” says Henry Lichstein, who along with his wife, Janine, recently established the Henry and Janine Lichstein Charitable Remainder Unitrust, which is invested in the MIT endowment.
“A unitrust is a particularly attractive form of wealth management,” he says, adding that it offers income for life and a tax deduction, and it’s a great way to diversify your investments. “Investing in the MIT endowment also has advantages,” he says, “and a unitrust with the return indexed to the value of the MIT endowment is good for MIT and good for you.”
Lichstein was raised in North Hollywood, CA, where in high school he was “a techie kind of guy.” He went on to earn three MIT degrees–a bachelor’s in electrical engineering in 1965, followed by a bachelor’s in economics and a master’s in management in 1966. After a stint at Texas Instruments, he worked at the Pentagon for two years as director of advanced computer techniques in the Office of the Secretary of Defense. In 1970, he joined Citibank in New York, where he held management positions in financial control and technology. He eventually became the assistant to the chairman, overseeing many projects in technology strategy and advanced development. In 2000, he became a partner of Palisades Ventures, a Los Angeles venture capital management company that invests in broadband and interactive-services companies. He is now a venture partner at the firm.
A few years ago, after hearing about the MIT arts council, Janine, who studied ballet at the Juilliard School in New York, suggested that the couple get involved. Now, Henry and Janine sponsor a young alumna for a three-year term on the MIT Council for the Arts.
“Since we decided long ago to give part of our estate to MIT, creating a unitrust made sense,” Henry says. “Now that it’s in place, we feel better knowing it’s set up and operating. It generates income for Janine and me now, it adds to the MIT endowment, and we can continue to add to it in the years ahead. It’s a great opportunity.”
Donors can now establish a trust invested in the MIT endowment and benefit from its diversified investment portfolio. The income paid by such trusts will increase as the endowment does.
For more information, contact Judy Sager: