Engineering technology alumnus Tony Marraccino and his wife, Terri, have made a generous planned gift that will equally benefit the Rose Float program, the College of Engineering and a maintenance fund for the university.
As longtime donors to the university, the couple say they wanted to support programs that have fulfilled their lives, both professionally and personally.
Tony Marraccino, one of three students in engineering technology¿s first graduating class in 1972, says his hands-on education has been helpful throughout his career.
¿The practical classes taken at Cal Poly Pomona were instrumental in landing my first job at Rockwell International,¿ says Tony, who started as a metallurgist for the B-1 bomber and space shuttle. Later, he worked for Halliburton and Santa Fe International in the oil and mining industries, traveling to Alaska, Louisiana, Australia, Utah and China. In 1989, Tony opened his own company, A&M Environmental Contracting, which specializes in remediating contaminated groundwater and soil.
¿Engineering technology allowed me to fill a niche in my career to do engineering and to do the practical hands-on applications of an engineer,¿ he says. ¿All through my life I¿ve been a hands-on engineer.¿
Terri Marraccino, a believer in the importance of higher education, says a bachelor¿s degree is the minimum requirement for jobseekers in today¿s economy. In addition to classes and coursework, students need be determined and focused.
¿In order to compete in today¿s world, you have to stay on top of things,¿ Terri says. ¿You have to demonstrate an ability to be focused, dedicate yourself to something and manage your time. There are so many more elements than just the academic side.¿
Because of the hands-on, interdisciplinary nature, the Rose Float program is a prime training ground for future professionals and leaders. During college, Tony helped build the float, and he and Terri have personally supported the program over the years. Many years ago on New Year¿s Eve morning, Tony used to cook up made-to-order scrambled egg sandwiches and serve hot coffee for students and volunteers along the parade route.
¿The rose float is something really good. It takes people out of the classroom environment and makes them apply practical techniques and problem solving in a real-world situation,¿ Tony says. ¿All of them learn to become leaders and work as a team.
In addition, the Marraccinos thoughtfully chose to support one of the campus¿ greatest needs: the general maintenance fund. As an engineer, Tony says he understands the importance of maintaining facilities and equipment in order for the university to operate, though it is not the most exciting prospect. ¿In my business, if I don¿t maintain my equipment, I can¿t do my work. Maintenance is really important.¿
In giving to the university, the Marraccinos selected a specific exchange strategy ¿ a charitable remainder trust ¿ to satisfy a range of personal and business goals, including a 1031 exit strategy. Working with Dan Wood, director of planned giving, they will be able to divest themselves of their rental properties, give to an important cause, protect their heirs, and take advantage of generous tax breaks and savings opportunities.
¿This was a way to mitigate the tax implications through a charitable trust and to satisfy our desire for charitable giving. In addition, it¿s provided us with a lifetime annuity,¿ Terri says. ¿We would encourage anybody to look into this strategy, particularly if you have property you no longer want to manage, you don¿t want to manage the money from the sale and you do have a desire to give.¿
For more information about this or other effective ways to help Cal Poly Pomona and meet your family goals, contact Dan Wood, director of planned giving, at dewood@cpp.edu or (909) 869-4825. All inquiries are held in the strictest confidence.
For more information about the planned giving, visit www.yourcalpolypomona.com.
Cal Poly Pomona has embarked on a $150 million comprehensive fundraising campaign to ensure that a quality college education is within reach for future generations of students. The campaign will strengthen the university’s ability to provide a hands-on education, to prepare students for the changing demands of the workplace, and to increase research and scholarship opportunities. The fundraising campaign relies on the support of the entire campus community — from alumni to faculty and staff to friends of the university. For more information, visit http://campaign.cpp.edu/.