GivingFAQs

Yes. All gifts to approved University funds/accounts set up at the Michigan Tech Fund will be counted in the Campaign gift totals. Note: the University does not accept gifts on behalf of fraternities and sororities on campus.

All gifts and pledges made during the duration of the Campaign count as Campaign contributions. However, payments made on pledges that were put in place prior to the start of the Campaign (July 1, 2006) will not count as Campaign gifts. These pledges were already counted in previous fundraising totals.

The Michigan Tech Annual Fund is dedicated to securing crucial, unrestricted contributions that benefit today’s Tech students. Annual Fund support may be directed to an academic department (each department has its own unrestricted account), or it may be directed to the University-wide unrestricted account.

There are many methods of giving to Michigan Tech. You may contribute with cash, check, credit/debit card, or electronic funds transfer. Funds can be wired, spread out with payroll deduction (check with your employer for this option), or given from a donor-advised fund. There are many options for non-cash gifts, such as stocks or estate planning. Please contact the Office of Gift Planning for more information.

Michigan Tech’s fiscal year operates from July 1 through June 30. All gifts received during this time period are applied to an individual’s total giving for the year.

Large or small, every gift matters. Five or ten dollars multiplied can make an impact. And, matching gifts can double your gift amount. Your participation also matters to us because it demonstrates your belief in the people we educate and the education we offer.

Gifts to Michigan Tech are fully deductible on your federal tax return if you itemize (subject to limitations based on percentage of taxable income).

Hundreds of companies will match their employees’ gifts to higher education institutions. This match can double, and sometimes even triple, the benefit to Michigan Tech. Find out if your company will match your contributions by asking your human resources department or trying our matching gift search. You can also list your matching gift company on the online giving form. Matching gifts are an important source of funds for Michigan Tech.

Yes. While we are more than happy to work with you and your advisors to develop a plan to meet your goals, we strongly recommend that you consult with your own advisors for a full discussion of the legal and tax implications of your financial and charitable estate planning.

An endowment is often described as a gift that keeps on giving. Endowments are kept separate from the operational funds of the University and the Michigan Tech Fund. They are invested for long-term stability and growth because our policies prohibit us from spending the principal. Only the earnings, or a portion of the earnings, are used each year to support the endowment's specified purpose. An endowment can be funded through current gifts, an estate gift, or a combination of the two. An endowment can provide resources—in your name or the name of a loved one—to the program of your choice for generations to come. See Leverage Your Gift.

Estate planning is recommended for the young as well as retirees. When it comes right down to it, no one dies without a will. If we die without a will, state laws determine the disposition of our estates, which may be a far cry from what you personally want for those individuals and charitable organizations closest to you. Most importantly, if you have dependent children, you do not want the state determining who will care for them. Also, wise gift planning can help ensure that more of your assets are available to meet your objectives. For example, if you need a tax deduction now and want to supplement your retirement income for the future, a deferred charitable gift annuity can be an effective method to accomplish these dual objectives.

A planned gift is a gift that is made with careful financial and estate planning. Planned gifts include bequests, contributions that provide lifelong income to the donor or another person, and retirement and life insurance benefit designations. In other words, a planned gift is a way for you to make a meaningful gift to a charitable organization like Michigan Tech during lifetime or at death. See Know Your Giving Options.

It is important to Michigan Tech that each and every gift be used for the purpose communicated by the donor. The designation of cash- and security-based gifts is confirmed on the official tax receipt issued to the donor. With regard to planned gifts, we encourage donors to complete and mail a McNair Society declaration of intent form to the Office of Gift Planning. In addition to conveying the donor's wish concerning McNair Society membership, this form is used to provide a record of the donor's wish regarding the eventual use of his/her estate gift for our files.

Yes. We strongly encourage you to contact our Office of Gift Planning. We want to be able to thank you, and we want to know your wishes regarding the eventual use of your estate gift. Also, with your permission, we want to honor your generosity and commitment to the future of Michigan Tech with membership in our McNair Society.

• A specific bequest is the simplest form of bequest. It designates a fixed dollar amount or specific assets to a beneficiary, the Michigan Tech Fund in this case. This type of bequest is appropriate when you have a definite dollar amount or a specific item of value (stocks, bonds, real estate, works of art, or rare books) that you wish to leave to Michigan Tech.
• Residual or proportional bequests designate either your entire estate or a percentage of your estate after other specific bequests have been distributed. The advantage of designating a portion of your estate to the Michigan Tech Fund is that the bequest automatically adjusts in size as your estate increases or decreases over the years.
• Contingent bequests are carried out only if circumstances make it impossible to carry out a primary bequest. For example, if all other beneficiaries are deceased, a contingent beneficiary receives the bequest. The Michigan Tech Fund is often named a contingent beneficiary in the wills and trusts of young alumni and friends.
• Retirement plan assets can be left to Michigan Tech by listing the Michigan Tech Fund as a beneficiary on the beneficiary form supplied by your plan administrator.

Contact the Office of Gift Planning for more information.

Your will is a legal document and should be drafted or amended by an attorney. The Office of Gift Planning will be happy to work with you and your attorney to draft a bequest that fits your situation, satisfies your personal goals, and meets the University's needs.

All four types of bequests can benefit your favorite college, department, or program. Alternatively, you may choose to provide a bequest for unrestricted support, which can be designated by the University to its greatest need at the time of payment.

Contact the Office of Gift Planning for more information.

I give to the Michigan Tech Fund, a Michigan nonprofit corporation of Houghton, Michigan, the sum of $______________ [OR all of my interest in the following described property: ___________________] [OR _____ percent of the residue of my estate] [OR all of the residue of my estate] to be used as the board of directors of the Michigan Tech Fund shall determine [OR to be used for the benefit of the __________________ college/department/program].

Contact the Office of Gift Planning for more information.