Excellence for the Next Generation of Northwestern Students

Andrew “Drew” Senyei’s ability to blend his scientific background with his entrepreneurial aptitude was first evident as a young medical student at the Feinberg School of Medicine. There, Drew ’79 MD, ’06 P, ’08 P, ’16 P and classmate Kenneth J. Widder ’79 MD developed a novel drug delivery system. They obtained two patents while still students and eventually licensed them to Eli Lilly and Company. Subsequently, Drew joined Lilly as a consultant while completing an internship at University of California, Irvine in obstetrics and gynecology.

As a University trustee and member of the Northwestern Medicine Campaign Cabinet, Drew and his wife, Noni, parents to Alison ’06, ’11 JD, Kelly ’08, and Grant ’16 MD/MBA, observe firsthand the University’s commitment to excellence. Moreover, for Drew—who emigrated from Budapest, Hungary, at age 6—his Northwestern education proved to be “the great equalizer” in America that provided him with the necessary tools to build a successful career funding emerging life science and health care companies.

“Northwestern’s amazing rise in research stature from when I was a medical student to today is incredibly impressive and inspiring,” Drew explained. “Witnessing the passion and performance of both the faculty and the students has inspired us to help continue the trajectory of excellence for the next generation.”

In 2014, Drew and Noni consulted the Office of Gift Planning regarding an unused piece of property that they were planning to sell. Having already created a charitable remainder unitrust (CRUT) two years prior, the Senyeis were delighted to learn that the real estate could be used to fund what is commonly referred to as a flip unitrust and support the Feinberg School of Medicine.

“We were not familiar with the benefits of using real estate to fund a flip charitable remainder trust prior to talking with Northwestern’s Gift Planning Team, and we are grateful for their help with identifying a vehicle that could simultaneously allow for an immediate charitable tax deduction while also allowing for flexibility regarding the timing of the property’s sale,” Drew explained.

This particular type of CRUT begins providing payments to the beneficiary once the property has been sold. Using appreciated real estate to fund the trust is an effective way to convert real estate into a higher income-producing asset. For the Senyeis, this planned gift also offered a charitable income tax deduction on the fair market value of the property while eliminating any capital gains liability for the transfer to Northwestern.

“As a parent, I fully appreciate the quality of education offered by Northwestern,” Noni said, “and knowing that our CRUT will support future generations of scientists and entrepreneurs is extremely gratifying.”

Learn how to start planning your gift to Northwestern. If you have any questions about the gifts discussed in this article, contact Northwestern Gift Planning at 800-826-6709 or giftplanning@northwestern.edu.