Deciding your goals may be the best way to start determining which gift plan will benefit you the most. Listed below are nine goals common to donors, along with suggested options for accomplishing these goals. Contact the Office of Gift Planning for more information.
Click on a goal below to read its suggested options.
Decide Your Goals
01
Make an outright gift
Options
- Cash remains the simplest form of outright gift.
- A gift of appreciated property creates a charitable deduction for market value and bypasses capital gains tax.
Benefits
- Immediate income tax deduction and immediate impact on Michigan Tech
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02
Maintain flexibility and control
Options
- A charitable bequest of property or a portion of your estate through a will or revocable trust reduces potential estate tax.
- A charitable bequest or beneficiary designation of retirement plan assets reduces potential estate tax and income tax to heirs.
Benefits
- Maintain control of assets during your lifetime and potential tax reductions.
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03
Convert property to fixed income
Options
- A charitable gift annuity or a charitable annuity trust created with cash can provide you or others with fixed-income payments while reducing income and estate taxes.
- A charitable gift annuity or a charitable annuity trust created with appreciated property can also bypass capital gains tax.
Benefits
- Immediate income tax savings, fixed income for life, current income may be increased, possible bypass of capital gains tax.
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04
Convert property to variable income
Options
- A charitable remainder unitrust or a pooled income fund created with cash can provide you or others with variable-income payments while reducing income and estate taxes.
- A charitable remainder unitrust or a pooled income fund created with appreciated property can also bypass capital gains tax.
Benefits
- Immediate income tax savings, variable income for life, current income may be increased, possible bypass of capital gains tax.
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05
Make a sizable gift with a modest investment
Options
- A series of outright gifts can be invested in a permanent endowed fund, which will have a lasting impact on Michigan Tech.
- A pledge to make a gift over a period of up to five years may enable you to support Michigan Tech in a more substantial way than you might otherwise think possible.
- A gift of a life insurance policy allows leverage of premiums into a larger death benefit.
Benefits
- A small investment can, over time, have a large impact on Michigan Tech with possible income/estate tax reductions.
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06
Provide principal for heirs
Options
- A charitable lead trust makes gifts to Michigan Tech for a predetermined number of years, after which the assets are either returned to you or passed on to your heirs at greatly reduced tax cost.
- Tax savings and possible increased income from life income gifts can fund life insurance to replace the assets given to Michigan Tech.
Benefits
- Support Michigan Tech and leave assets to heirs with reduced estate and gift taxes.
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07
Provide income for heirs
Options
- a life income gift can provide income to your heirs, either now or upon your death.
Benefits
- Provide income to heirs while you receive tax benefits and can designate the ultimate use of assets for the benefit of Michigan Tech.
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08
Make a gift of real estate
Options
- Make an outright gift of real estate for maximum income tax deduction.
- Make a charitable bequest of real estate to maintain control during your lifetime.
- Use real estate to fund a life income gift to create a new stream of income for yourself or others while bypassing.
- Make a life estate gift to gain tax benefit now while continuing to use your home or farm.
Benefits
- Convert appreciated real estate into support to Michigan Tech with possible tax benefits.
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09
Donate personal items related to Michigan Tech's mission
Options
- Make an outright gift for immediate benefit to Michigan Tech.
- Make a charitable bequest of property to maintain control during your lifetime.
Benefits
- Outright gift creates immediate income tax deduction, while estate gift may reduce estate taxes.
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