Philanthropy is a powerful tool for Higher Education institutions for many reasons.
It can help a student stay in school. It can help a professor continue their research. It can help student groups attend conferences.
What compels someone to donate to an institution over another worthy cause? The reason is often quite personal. Harris Ng ’95 part of the alumni campaign committee answered that question. “There are certain points in your life that is pivotal in making you the person you are. Kettering was one of those. It was a time in my life when I went from an underperforming high school student to a motivated and successful adult. I see Kettering as providing a practical and direct career launching pad for many that may not be able to afford to spend most of their college years finding themselves. Kettering is consistently one of my top priorities to support.”
At Kettering University, we appreciate the support of our alumni. The impact they have on the University is far reaching. As we continue the Boldly Forward Campaign, our alumni and friends are helping to move the campus forward. Harris and his wife Melissa started a scholarship and most recently supported the new Learning Commons with a gift from their donor-advised fund.
When asked why, here is what Harris had to share… “Tax benefits allow us to magnify the giving power that we have. Most people know about the ordinary income deductions, but many don’t use the capital gains benefits that are available. I’ve given to Kettering in two ways, capturing capital gains benefits, a donor-advised fund donation and direct transfer of appreciated securities. I had a donor-advised fund account set up that was tied to my brokerage account. I’m able to transfer appreciated stock to my donor-advised fund account on a day when the stock price is high. I receive the tax deduction on the day it was transferred. Then, I can 'recommend' the fund donate to Kettering and direct it to where I want, in this case the Learnings Commons. The second way I’ve donated to Kettering that gives me a capital gains benefit is a direct transfer of securities (e.g. mutual funds) to Kettering’s brokerage account. This takes some coordination between the two brokerages and the timing to a day, is not always controllable. Both methods have allowed me to take the full deduction in ordinary income, and since I owned the securities for more than one year, I avoided capital gains on the appreciation. Of course, everyone should consult their tax advisor to see what is the right method for them.”