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. More and more frequently, Kettering donors are using 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.

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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.

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 appraise value of the item(s).

Appreciated securities

Receive one of the IRS’s most significant tax benefits for gifts of appreciated securities.  You will avoid long-term capital gains tax.

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.

Donor Advised Funds (DAF)

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

IRA

With the recent passage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, most donors do not have a required minimum distribution from their retirement plan in 2020. Minimum distributions will not be required from IRAs, 401(k)s, 403(b)s and most other defined contribution plans maintained by an employer for individuals. Minimum distributions that have already started are still required from defined benefit pension plans and some 457 plans. However, required minimum distributions that would have had to start in 2020 don’t have to start until 2021, including distributions from defined benefit pension plans and 457 plans.

Donors who are 70½ or older, however, can still consider transferring up to $100,000 annually as a Charitable Remainder Distribution from an IRA (traditional and Roth) to Kettering. To start the process, please notify your IRA custodian to make a direct transfer of the distribution amount which counts toward the required minimum distribution.  For long term planners, consider designating Kettering University as a beneficiary of your IRA. 

Business Interests

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

Partnership Interests

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

Harris Ng, Class of 1995

Harris Ng '95

 

To learn more about giving to Kettering University, please contact the Office of Gift Planning at (800) 955-4464 ext. 9746 or giftplan@kettering.edu.

 

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.”

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.

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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.