Genesis of a Unitrust
It was pre-ordained that a young woman named Margaret Moltrup should enroll in 1929 at Ohio Wesleyan University. She grew up in the influence of the Methodist Church in Beaver Falls, Pennsylvania. Her father, J. Thomas Moltrup, a prominent steel entrepreneur there, and her mother, Mrs. Anna Moltrup, both were active in the First Methodist Church in Beaver Falls. So OWU, with its Methodist origins, beckoned.
After high school, in a year that was on the edge of The Great Depression, Margaret knew where she wanted to go to college. Her father and mother also knew what college that would be. So they drove the 171 miles to Delaware, Ohio, and Margaret's four years on campus there soon began.
Margaret married Eugene Jannuzi, who managed the family steel business for 23 years, until it was sold in 1989. Margaret and Eugene enjoyed 58 years of marriage until her death in 2003.
"Margaret always spoke fondly of her years at OWU," says her husband. "She maintained affectionate memories of living at Monnett Hall, how the bell there 'tolled the knell of parting day,' and of her sorority, Pi Beta Phi. All her memories of OWU were happy ones. And Bun's Restaurant was a particular source of pleasant times."
Although Monnett Hall has been gone since 1973, the Monnett Bell was salvaged, and preserves the Monnett tradition by pealing its nostalgic call to audiences at the start of performances at the CDC Theaters on campus.
Margaret's experiences at OWU led her and her husband to establish the Eugene F. and Margaret Moltrup Jannuzi Unitrust, with an initial investment of $500,000. Since it was established the investment has grown substantially.
Margaret had a long and rewarding life. After graduating from OWU in 1933, she taught English in the Beaver Falls schools, while pursuing studies toward an MA degree at the University of Pittsburgh. She always was active in her church, in AAUW, and in many civic affairs.
For decades of the twentieth century, Margaret's and her husband's busy lives allowed few visits to Delaware. Their many travels took them elsewhere. However, when Tom Courtice became President of OWU in 1994 their interest in college affairs was rekindled. Tom grew up in Beaver Falls and the Jannuzis knew the Courtice family, so it was de rigueur that they would attend Tom's inauguration as President of OWU.
With that renewed interest, and with subsequent visits to Delaware, the idea of a Unitrust took shape.
"Margaret wanted to remember her beloved alma mater in a tangible way," Mr. Jannuzi says. "And although I am not an OWU alumnus, I thoroughly agreed."
Margaret and her husband wanted their Unitrust to be directed toward the fine arts, and so it is.
"Margaret's love for Ohio Wesleyan was the catalyst," her husband says. "I can't think of a better way to honor that love."
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.