Gift Planning

Leaving a legacy with a gift using current assets

Donors also can use current assets described here to leave their mark on Kettering University.  Gifting from these types of assets offers donors the opportunity to see the immediate impact of their gift. Frequently, donors use a combination of a gift from a current asset and a gift in their Will or Trust to make a difference in the lives of Kettering students.

Your donation of appreciated stock = no capital gains + a charitable deduction

Giving appreciated stock held for more than one year to Kettering University means:

• You don’t pay capital gains tax on the appreciation 
• You can deduct the full value of the stock when you itemize
• Your gift can provide a scholarship, renovate a lab/classroom, expand the outreach of a pre-college program (AIM, LITES) or help build state-of-the-art facilities like the Learning Common.

It can also be a smart tax strategy for you.

For instructions on donating appreciated stock or mutual funds, click here. 

Important: Please note it may take up to five business days for your stock donation to transfer to the University account. For more information, contact us toll-free at 800-955-4464, ext. 9746, or email giftplan@kettering.edu.

For several reasons, you should have one even if you think you don’t. Many people mistakenly believe a will is not necessary because:

• ​All of my assets already have a beneficiary: But, what if that beneficiary dies before you? What if that beneficiary has marital, drug or alcohol problems? What if that beneficiary is receiving government benefits? The truth is, if the beneficiary dies before you, the money may not go where you want it to—a Will or Trust can determine a contingent beneficiary. A Will or Trust can protect money from beneficiaries with problems so they are not handed a lump sum of money. And a Will or Trust can protect a beneficiary’s government benefits.
• “They” will figure it out: Leaving your family to deal with your estate presents the probability of family disagreements. A Will or Trust eases the estate process for your family and protects your loved ones while distributing your assets as you would like to see them distributed: to family, to friends, and to support your favorite charities.
• “I’m too young/old” or “it’s hard to think about it”: If you are over the age of 18, you need a Will now. Life happens—marriage, children, divorce, illness, accidents. Protect your assets and your family now. If you have minor children, you can name the person who will take care of your children as the guardian. If you don’t have a Will and have minor children, the court will appoint a guardian.

What should I know before going to an attorney? What kind of attorney should I look for? An attorney that specializes in estate planning can handle all the documents for you, including medical and financial powers of attorney. You will want to consider who you choose as a guardian of minor children, who the personal representative (executor) of the estate should be, and how you want your assets distributed through your estate to family, friends, and charities. An estate planning attorney will walk you through all these topics.

or more information on planned giving, contact the Kettering University Office of Advancement at giftplan@kettering.edu.

Use your Will/Trust to make a Gift

Alumni and friends have found that making a gift in their Will/Trust offers an easy yet powerful way to express their appreciation for their GMI/Kettering degree, while potentially offering tax advantages and allowing for a lasting legacy.  

Legacy and Long-Term Impact: You leave a lasting legacy by supporting a Kettering education with a gift from your Will/Trust.  

Tax Benefits: Certain planned gifts can provide tax advantages, such as reducing estate taxes and potentially avoiding capital gains taxes. Depending on the type of planned gift, you may be eligible for income tax deductions, which can reduce your taxable income. 

Financial Flexibility: Planned gifts don't require immediate cash outlay, allowing you to support your favorite charity without impacting your current financial needs. 

Diversifying Revenue Streams: For nonprofits, planned gifts provide a stable and predictable source of funding, diversifying their revenue streams and ensuring long-term sustainability. 

Meaningful Giving: Planned giving allows you to shape your charitable legacy and ensure your gift aligns with your values and the mission of the organization. 

Potential for Larger Gifts: Planned giving often enables donors to make larger charitable contributions than they might otherwise be able to during their lifetime.  

Estate Planning: Incorporating a charitable bequest into your estate plan can help ensure your assets are distributed according to your wishes, while also supporting a cause you care about. 

Strengthening Relationships: For nonprofits, planned giving programs can help strengthen relationships with donors by demonstrating a commitment to long-term partnerships and shared values. 

Multiple Gift Options: Planned gifts come in various forms, such as bequests, charitable trusts, and gifts of assets, allowing you to choose the option that best suits your financial situation and charitable goals. 

Fixed Amount

A fixed amount involves a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may consider leaving a set amount (i.e., $50,000) to Kettering University, or you may leave your home, other real estate or other tangible asset to Kettering University. (Note: Kettering University policy is to sell properties upon receipt, with the proceeds given to the University.)

Percentage Bequest 

Rather than leaving a fixed amount/asset, you may decide to give a specific percentage of your estate to the University. This can be in the form of leaving a percentage of your estate valued at the time of your death or a percentage of your residual estate (after other specific bequests have been honored). For example, you may wish to leave 10% of your overall estate to Kettering University that, at the time of your gift, is valued at $100,000.

Contingent Bequest

By listing Kettering University as a contingent beneficiary, your gift will go to the University after a certain event occurs (i.e., the death of a spouse).  

What is a Bequest?   

A bequest is a gift in your Will or Trust to Kettering University, and it is exempt from federal estate taxes. You can designate it to the Kettering Gift Fund (a discretionary fund available for the University to move forward with unanticipated opportunities) or a specific purpose, such as a student scholarship, research or faculty support.

Ned ’57 and Rita Brown have quite a history and unique hobby. They have been married for over 65 years and were friends long before they were married. They both grew up in Saginaw – Ned worked for Saginaw Steering Gear, and Rita was a nurse. After working for GM, Ned moved to EDS and worked with integrating computers in manufacturing. They are now retired and enjoying a six-acre daylily farm with over 500 varieties of daylilies, and they keep busy crafting and woodworking. 

Ned and Rita recently chose to create an endowed scholarship for students in Michigan needing financial help to attend Kettering. 

“The co-op program at Kettering is a fantastic way to get an education, but in today’s environment, a little extra cash is always necessary to help complete the education phase. So, because of this, we decided to create this scholarship so future students don’t miss out on what Kettering has to offer.”  

They did this through a transfer from their IRA. Direct transfers from an IRA are not subject to income tax and can (for donors over 73) count towards a Required Minimum Distribution. Individual donors can contribute up to $108,000 annually, and $216,000 for spouses with separate accounts. 

For more information on leaving a gift through your IRA, please contact the Office of Advancement, Kettering University, at giftplan@kettering.edu or (800) 955-4464, ext. 9746.