Trusts and Philanthropy

A life in general has three phases:

learn to fill a role in an organization,
fill that role, and
retire and die.

I am near the end of the third phase, but phases one and two did not prepare me for phase three -- "too soon old and too late smart".

Trusts

In 2023 I created six trusts and divided all my assets among them:

one for each of my three children,
two for my wife, and
one for research.

For the research details, see the Trust Agreement for Rada Research Trust. Within that Agreement, Section 4.1 Beneficiaries states:

This Trust will support the legacy of the Trustor as a researcher in artificial intelligence and contribute to advances in science, engineering, and health care as delineated in a separate Appendix which defines the class of possible beneficiaries. The specific beneficiaries have not yet been identified. For instance, the Trustee has the option to award scholarships for study or awards for certain achievements, but no awardees have been yet identified.

As the next section shows, in 2024 I began actualizing the research trust.

Philanthropy

I endowed in 2024 "Rada Scholarships" at four universities:

University of Illinois Urbana-Champaign (UIUC) has "Rada Scholarship in AI and Healthcare".

UIUC website that cites my endowment.
University of Maryland Baltimore County (UMBC), has the "Rada Scholarship in AI and Healthcare".
University of South Florida (USF) has "Rada Scholarship in AI and Healthcare", and
Wayne State University (WSU) has the "Rada Endowed PhD Thesis Research Award in Artificial Intelligence and Healthcare".

Those were chosen because I earned my PhD at UIUC, retired from UMBC, am impressed with USF's AI and medicine work, and started my career at WSU. The Scholarship Agreements between each university and me are the same in spirit. Details vary by university; for instance, UMBC's scholarship is managed by its University Graduate School, WSU's, Engineering College, UIUC's, Medical School, and USF, the USF Foundation. The UMBC Agreement specifies:

The purpose of the Fund is to provide scholarships for PhD students from any UMBC department who have already begun their thesis research. Preference will be given to students with a hypothesis focused on the intersection of artificial intelligence and healthcare. If there are no qualified candidates, preference will then be given to students with a hypothesis focused on artificial intelligence.

The Agreements at the other universities have a similar 'Purpose' specification.

In March 2025, I endowed the "Dr. Roy Rada Family Legacy Fund" at Lawrence Township School Foundation in Indianapolis, Indiana where I went to 7th and 8th grade.

UIUC — LTSF website that cites my endowment.

Return Home