Kleintop Family Commits $50,000 for Smeal Trustee Scholarship
UNIVERSITY PARK, Pa. (December 18, 2012) -- Penn State alumnus Jeffrey N. Kleintop and his father, Jeffrey T. Kleintop, have established the Kleintop Family Trustee Scholarship in the Smeal College of Business with a gift of $50,000. By utilizing the University’s Trustee Matching Scholarship Program, this new fund will provide support equivalent to a $100,000 endowment for undergraduates with financial need.
“Penn State has long been part of our family tradition,” said Jeffrey N. Kleintop. “Now we are making giving a family tradition as well.”
Jeffrey N. Kleintop is a 1995 graduate of the Smeal MBA program. He is chief market strategist and executive vice president at LPL Financial. Cited by the Wall Street Journal as one of “Wall Street’s best and brightest” and known for his keen market insights, he is regularly quoted in national media outlets such as the New York Times and Money, and he is a frequent guest on CNBC, Bloomberg TV, PBS, and Fox Business News. He contributes articles to Forbes and TheStreet.com, and he is the author of the popular investment book Market Evolution: How to Profit in Today’s Changing Financial Markets. Kleintop won Smeal’s Emerging Professional Award in 2005, and he takes time annually to share insights with the student managers of the Nittany Lion Fund.
Jeffrey T. Kleintop earned an associate’s degree from the College of Engineering in 1966. He retired last year after developing and servicing healthcare diagnostic devices over a long career that began at Dupont and ended at Siemens.
“Jeff is a Smeal MBA graduate of whom we are extremely proud,” said Charles H. Whiteman, the John and Becky Surma Dean of Smeal. “His financial expertise is well established and his commentary is highly sought after in the national media. Despite his busy schedule, Jeff makes time to share his expertise with our students as well. This new scholarship represents yet another meaningful way for his family to support our undergraduates.”
The Trustee Matching Scholarship Program maximizes the impact of private giving while directing funds to students as quickly as possible, meeting the urgent need for scholarship support. In this groundbreaking philanthropic model, Penn State matches 5 percent of the total pledge or gift at the time a Trustee Scholarship is created, making funds available immediately for student awards. This University match, which is approximately equal to the endowment's annual spendable income, continues in perpetuity, doubling the support available for students with financial need.
The Kleintop Family Trustee Scholarship will help the Smeal College of Business to reach its goals in For the Future: The Campaign for Penn State Students. This University-wide effort is directed toward a shared vision of Penn State as the most comprehensive, student-centered research university in America. The University is engaging Penn State's alumni and friends as partners in achieving six key objectives: ensuring student access and opportunity, enhancing honors education, enriching the student experience, building faculty strength and capacity, fostering discovery and creativity, and sustaining the University's tradition of quality. The campaign's top priority is keeping a Penn State degree affordable for students and families. The For the Future campaign is the most ambitious effort of its kind in Penn State's history, with the goal of securing $2 billion by 2014.
For more information on the For the Future campaign, visit giveto.psu.edu.