ASHRAE Journal - October 2021 - HR10

Q&A with BOGI SETTY
ASHRAE MEMBER, SUCCESSFUL BUSINESSMAN AND PHILANTHROPIST
Q: You have established the Setty Family Foundation
Region I & Region III Scholarships and have funded
the Applied Engineering Challenge Competition. What
inspired your gifts to ASHRAE?
A: As an engineer, I have gone through many diffi culties
to earn a degree and enhance myself both qualitatively
and quantitively. The applied Engineering Award gives that
challenge to students across the globe. It hopefully pushes
them to come up with innovative ideas that will contribute
to enriching society as well as engineering innovation.
A second reason for the funding support is to encourage
local ideas and bring awareness to the talented individuals
in these different regions around the world. I have been
warmed by the fact that so many talented young engineers
in places from Indiana to Indonesia have benefi tted from
these scholarships.
Q&A
2018 Setty Family Foundation Applied Engineering Challenge winning
team from Bandung Institute of Technology, shown with their faculty
advisors, received fi rst place. Bogi Setty, second from the right.
Q: Would you tell us why it was important to you to
endow the Applied Engineering Challenge through
an estate gift?
A: Endowing a portion of one's estate can help fund good
causes like scholarships and applied engineering awards.
By investing the endowment funds in various incomeproducing
businesses and securities, one can grow the
endowment and give scholarships in perpetuity. I've learned
over time that estate bylaws can be written such that the
income generated in the foundation can be used for specifi c
purposes such as scholarships.
"
Q: What does it mean to you to involve your children
and grandchildren in the award ceremony?
A: Philanthropy and gift seeding in the growing age of my
grandchildren will hopefully have a huge impact. As they grow
into adults, they can use this experience in their journey of life.
Q: How do you think your grandchildren feel when they
go up on the stage and present the awards to the
students who win the competition?
A: I asked each of them to write to me about how this has
made them feel over the years. Here are the responses from
my four grandchildren in their own words:
JAMES KAILISH SETTY (Age 16):
The scholarship awards are such an important thing.
It feels great to be part of something bigger than
myself and to see and participate in an award that
facilitates growth in up-and-coming students. I am
inspired by the students because of their work ethic
and by my grandparents because of how they make
meaningful positive changes in students' lives.
HR 10
ELIA SETTY (Age 13):
I feel happy when giving the awards. I feel great being
the one to hand the awards to the students and be
able to shake their hands. It's an honor to be involved
in such a big event and be part of something that
changes lives.
GAYATRI SETTY (Age 13):
Being on stage and giving the award was cool,
especially participating in giving out the awards at
an international ASHRAE conference. It was cool
to see girls getting an award, too.
SHALINI SETTY (Age 17):
When I am on stage with my family presenting the
Setty Family Foundation awards, I feel inspired. I am
inspired by my grandfather and the legacy he has
created. I am inspired by the engineering students
who compete with their innovative projects. I am
inspired by my grandmother, father, and uncle who
have dedicated so much to the Setty Family Foundation.
I am inspired by the signifi cant percentage of
female winners. As a high school senior, I am motivated
by the success of these female engineers in a
currently male-dominated fi eld. I am lucky enough to
be a part of the next generation of the Setty Family
Foundation, and I hope that as an organization, family,
and company we can continue to inspire students, like
me, to keep learning and exploring.
"
Q: Finally, why is being philanthropic so important to you?
A: Philanthropy is a mindset, and if one can give to the
disadvantaged in any form, any time, it is a virtue. Giving
money, at the end of the day, is principled and philanthropic.
Just giving money is not enough, though. Service to others
and helping the disadvantaged with action is more philanthropic,
in my opinion. Aiding those who are deprived gives
me great joy.
2020-21 ASHRAE Investor Honor Roll
October 2021
ASHRAE Journal - October 2021

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