Gift Planning

We are prepared to help you plan your gift using charitable giving strategies that will fulfill your philanthropic goals to impact future generations of Kettering students. Kettering University is equipped to receive and steward planned gifts such as bequests through your Will or Trust, IRA charitable remainder distributions, donor advised funds (DAFs), charitable gift annuities, donation of stocks and appreciated securities, real estate, charitable remainder trusts as well as charitable lead trusts.

Questions? Please contact the Office of Gift Planning at giftplan@kettering.edu or (800) 955-4464 ext. 9746.

Leaving a legacy with a gift using current assets

Donors can also use current assets described here to leave their mark on Kettering University.  Gifting from these types of assets offer 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.

IRA

Making a Charitable Remainder Distribution (CRD) from one’s IRA to Kettering University remains a popular giving option for alumni and friends. With so many tax changes in the past few years, however, we want to confirm the current tax law for 2022. 

  • Individuals who are 72 years old are required to take a distribution from their IRAs, 401(k)s, 403 (b)s and most other defined contribution plans maintained by an employer for individuals. (SECURE ACT of 2019). In 2020, this requirement was waived, but it is not waived for 2022.
  • Individuals who are 70 ½ and older are eligible to take a distribution from their IRA to Kettering University. (Secure Act of 2019)
  • You can transfer up to $100,000 annually as a Charitable Remainder Distribution from an IRA to Kettering. NOTE: So can your spouse!
  • Because your CRD is pre-taxed income, you will not receive a charitable deduction for tax purposes, however you may see your adjusted gross income (AGI) reduced because of the transfer. 
  • Kettering University will recognize you for the value of the CRD.

Giving from one’s IRA is easy, but we strongly encourage donors to allow 6-8 weeks for the transfer to the University.

To start the process, please notify your IRA custodian to make a direct transfer of the distribution amount to Kettering University. For long term planners, consider naming Kettering University as a direct beneficiary of your IRA. 

Appreciated Stocks & Securities

By donating appreciated stock, no capital gains tax will be due on the appreciation and the full value of the stock is immediately designated to a Kettering University capital improvement project, scholarship, program or academic area that is important to you. When you itemize, you can deduct the full value of the stock even though you did not pay capital gains tax on the appreciation. So, if you have the opportunity to choose between making a gift of cash and a gift of appreciated stock, a gift of stock may be a better choice since you will avoid the capital gains tax that would be due if you sold the stock.

Your gift can help build the state-of-the art Learning Commons, create a student scholarship to help offset tuition, strengthen our pre-college programs, and more. Kettering University’s Office of Gift Planning is available to assist you with arranging the transfer to the University that will help smart young people meet their objective for a brighter future – a Kettering degree

IMPORTANT: The University is working with a new financial services firm. For the new account information, please contact us toll free at (800) 955-4464 or giftplan@kettering.edu so that we can ensure your stock donation is transferred smoothly to the University.

Retirement Plans

Donate your remaining retirement plan assets directly to the University by making Kettering University a direct beneficiary of your 401k, 403b or other account or to a Charitable Remainder Trust.  A gift through a Charitable Remainder Trust maximizes your heirs’ inheritance while benefitting Kettering.

Life Insurance

Transfer ownership of a life insurance policy with a cash value of $10,000 or more, and Kettering University will immediately benefit from your generosity.  Make a large future gift with little cost and receive current (and possibly future) income tax deductions by transferring ownership of your policy to Kettering.

Donor Advised Funds (DAF)

Recommend a current gift to Kettering from your Donor Advised Fund. Create a legacy by naming Kettering as a beneficiary when the DAF is dissolved.

Real Estate and/or Personal Property

Current or future gifts of residential, commercial, farm or undeveloped real estate, books, artwork or equipment will provide the donor with a charitable deduction based on the appraised value of the item(s).

Business & Partnership Interests

Business Interests

Give Kettering an interest in a closely held or family business.

Partnership Interests

Transfer an interest in a Family Limited Partnership (FLP) or Limited Liability Company (LLC). Please contact your attorney for more information. 

  • IRA

    IRA

    Making a Charitable Remainder Distribution (CRD) from one’s IRA to Kettering University remains a popular giving option for alumni and friends. With so many tax changes in the past few years, however, we want to confirm the current tax law for 2022. 

    • Individuals who are 72 years old are required to take a distribution from their IRAs, 401(k)s, 403 (b)s and most other defined contribution plans maintained by an employer for individuals. (SECURE ACT of 2019). In 2020, this requirement was waived, but it is not waived for 2022.
    • Individuals who are 70 ½ and older are eligible to take a distribution from their IRA to Kettering University. (Secure Act of 2019)
    • You can transfer up to $100,000 annually as a Charitable Remainder Distribution from an IRA to Kettering. NOTE: So can your spouse!
    • Because your CRD is pre-taxed income, you will not receive a charitable deduction for tax purposes, however you may see your adjusted gross income (AGI) reduced because of the transfer. 
    • Kettering University will recognize you for the value of the CRD.

    Giving from one’s IRA is easy, but we strongly encourage donors to allow 6-8 weeks for the transfer to the University.

    To start the process, please notify your IRA custodian to make a direct transfer of the distribution amount to Kettering University. For long term planners, consider naming Kettering University as a direct beneficiary of your IRA. 

  • Appreciated Stocks & Securities

    Appreciated Stocks & Securities

    By donating appreciated stock, no capital gains tax will be due on the appreciation and the full value of the stock is immediately designated to a Kettering University capital improvement project, scholarship, program or academic area that is important to you. When you itemize, you can deduct the full value of the stock even though you did not pay capital gains tax on the appreciation. So, if you have the opportunity to choose between making a gift of cash and a gift of appreciated stock, a gift of stock may be a better choice since you will avoid the capital gains tax that would be due if you sold the stock.

    Your gift can help build the state-of-the art Learning Commons, create a student scholarship to help offset tuition, strengthen our pre-college programs, and more. Kettering University’s Office of Gift Planning is available to assist you with arranging the transfer to the University that will help smart young people meet their objective for a brighter future – a Kettering degree

    IMPORTANT: The University is working with a new financial services firm. For the new account information, please contact us toll free at (800) 955-4464 or giftplan@kettering.edu so that we can ensure your stock donation is transferred smoothly to the University.

  • Retirement Plans

    Retirement Plans

    Donate your remaining retirement plan assets directly to the University by making Kettering University a direct beneficiary of your 401k, 403b or other account or to a Charitable Remainder Trust.  A gift through a Charitable Remainder Trust maximizes your heirs’ inheritance while benefitting Kettering.

  • Life Insurance

    Life Insurance

    Transfer ownership of a life insurance policy with a cash value of $10,000 or more, and Kettering University will immediately benefit from your generosity.  Make a large future gift with little cost and receive current (and possibly future) income tax deductions by transferring ownership of your policy to Kettering.

  • Donor Advised Funds (DAF)

    Donor Advised Funds (DAF)

    Recommend a current gift to Kettering from your Donor Advised Fund. Create a legacy by naming Kettering as a beneficiary when the DAF is dissolved.

  • Real Estate and/or Personal Property

    Real Estate and/or Personal Property

    Current or future gifts of residential, commercial, farm or undeveloped real estate, books, artwork or equipment will provide the donor with a charitable deduction based on the appraised value of the item(s).

  • Business & Partnership Interests

    Business & Partnership Interests

    Business Interests

    Give Kettering an interest in a closely held or family business.

    Partnership Interests

    Transfer an interest in a Family Limited Partnership (FLP) or Limited Liability Company (LLC). Please contact your attorney for more information. 

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 and, 
  • When you itemize, you can deduct the full value of the stock, and
  • Your gift can provide a scholarship, renovate a lab/classroom, expand the outreach of a pre-college program (AIM, LITES), or help build the Learning Commons. 

It can also be a smart tax strategy for you.

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

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

 

 

 

Building Onto an Endowed Scholarship & Increasing Student Support

Roger Lachele ’75 - Roger established the Roger Lachele ’75 Endowed Scholarship with a gift from his estate and then chose to endow it in his lifetime with gifts of appreciated stock.  Roger continues adding to the scholarship each year with additional stock transfers, expanding the number of student recipients who live outside a 500-mile radius of Flint. Believing that Kettering is a unique educational experience deserving of national recognition, Roger wants his scholarship to encourage students outside of the Midwest to attend Kettering University. To date, #   students from Minnesota, Iowa, Missouri, Tennessee, Virginia, and even Quebec, Canada have benefitted from Roger’s on-going commitment to the University.

Mary “Mell” Gallahue ’85 and her husband Kieran created the Gallahue Scholars Program in 2018 to recruit and retain female students in STEM at Kettering University.  The Gallahues continue directing grants from their Donor Advised Fund to increase their endowment’s corpus and now involve their three children in the decision-making process.  It’s a win-win for all --- Kettering students receive a significant scholarship while the Gallahues are creating their family’s philanthropic legacy.      

Roger and Mell use two very popular ways to maximize the scope of their scholarship:  Appreciated stock and Donor Advised Funds.

  • Gifts of stock (held for more than a year) provide donors the opportunity to give back to their alma mater in meaningful ways while receiving the benefit of paying no capital gain taxes and having the ability to deduct the full value of the stock when itemizing on their tax return.   
  • Donations through a Donor Advised Fund (DAF) also provide a tax deduction at the time the DAF is established, and then the donor has the flexibility of making a gift when the donor wishes.  Donors can also name the University as a beneficiary to their DAF when planning their estate.

 

Planned Giving Contact Information

To learn more about naming opportunities available in the Learning Commons or other University priorities, please contact us: (800) 955-4464, ext. 9746 or giftplan@kettering.edu

 

Leaving a Legacy with a gift from your Will or Trust

Leaving a bequest in a Will or Trust to Kettering University can shape your legacy by helping provide a Kettering education to future generations of students. We invite you to join other alumni in Kettering University’s Heritage Society, a donor society recognizing alumni and friends who make a planned gift to the University.

Front of Campus Center

Different Types of a Bequest

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’s 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 student scholarship, research or faculty support.

How can we help?

You can leave your legacy at Kettering University by making a bequest through a Will or a Trust or through current assets or both!  Whatever option works best for you and family, please let us know.  We would be happy to work with you, your attorney, and/or financial planner to help you identify ways to give and meet your philanthropic objectives.