About Us
Organization
The Michigan Tech Fund is a not-for-profit, tax-exempt corporation established in 1965 under the laws of the State of Michigan. Existing solely for the benefit of Michigan Technological University and its students, the Tech Fund promotes, receives, invests, and disburses gifts for the University's goals and needs.
A volunteer Board of Trustees of approximately fifty members oversees the Fund, which is independent of the University, and its staff and operations are totally supported by unrestricted gifts and management fees, not by tax dollars.
Mission
The Michigan Tech Fund is the official fund management and gift solicitation agency of Michigan Technological University. Our mission is to encourage private gifts to help Michigan Tech achieve its goals by balancing the interest of the donor with the needs of the University and managing those resources efficiently and effectively.
The University's Needs
Michigan Tech receives less than half of its total operating budget from the State of Michigan. This circumstance makes private support more vital than ever if the University is to meet educational needs and provide essential services to fulfill its mission: "Preparing students to create the future."
Gifts to Tech may be unrestricted, or they maybe designated to virtually any department or program on campus. In addition, individuals may choose to direct their gift to an endowed account which provides support in perpetuity by only paying out a portion of the account interest. In summary, it is up to donors to decide the gift designation and/or the type of account they would like to support.
(In accordance with IRS regulations (Rev. Rul. 56-329), we are unable to issue receipts for gifts that support fraternity and sorority houses.)
Making a Gift
Individuals have a variety of methods from which to choose when making a gift to Michigan Tech:
- Outright gift
- Pledge (payable on date(s) selected by the donor)
- Gifts-in-kind (such as equipment or other personal property)
- Real estate (must meet necessary criteria—call 906-487-3325 for details)
- Deferred/planned gift (including bequests, charitable gift annuities, charitable remainder trusts, and pooled income funds)
Payment Options
Several payment options exist for making a gift to Michigan Tech:
- Check (made payable to Michigan Tech Fund)
- Credit card (the Fund accepts Visa, MasterCard, American Express, and Discover)
- On-line (via the Fund's Website at www.mtf.mtu.edu)
- Stocks or other securities (contact the Fund at 906-487-3325 for procedure)
Giving Clubs and Societies
Alumni and friends who give at specified levels are listed in the Fund‘s Annual Report each year. Donors are recognized for what they contribute annually (Giving Clubs), and for what they give over a lifetime (Giving Societies). These recognition levels are:
Annual Gifts Recognition Levels
Recognition for annual gifts of cash, securities, gifts-in-kind or irrevocable planned gifts include:
| Professors Club | $100 - $249 |
| Deans Club | $250 - $499 |
| Provosts Club | $500 - $999 |
| Presidents Club | $1,000 - $2,499 |
| Trustees Club | $2,500 - $4,999 |
| Governors Club | $5,000 - $9,999 |
| Leadership Club | $10,000 and higher |
Lifetime Gifts Recognition Levels
The following ranges show lifetime recognition levels for those who have chosen to give cash, securities, gifts-in-kind or irrevocable planned gifts. All gifts exceeding $25,000 will be recognized as major gifts to Michigan Tech.
| Presidents Society | $10,000 - $24,999 |
| Founders Society | $25,000 - $49,999 |
| Second Century Society | $50,000 - $99,999 |
| 1885 Society | $100,000 - $249,999 |
| Dillman Society | $250,000 - $499,999 |
| Hotchkiss Society | $500,000 - $999,999 |
| Hubbell Society | $1 million and above |
| McNair Society | Individuals who have provided a planned or estate gift. |
Tax Advantages
The federal government, by providing certain benefits in the tax laws, encourages gifts to educational institutions and other nonprofit organizations such as the Michigan Tech Fund. Donations, bequests, and other gifts to the Tech Fund are deductible for income, gift, and estate tax purposes. The Fund is a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code.
The State of Michigan encourages residents to support Michigan colleges and universities through the Public Contribution Credit. Under this program, Michigan taxpayers receive a 50 percent “refund“ on their gifts, subject to limitations on their filing status—individual or joint returns. The credit is available through the income tax form filed by Michigan wage earners.
A single taxpayer can make a $200 gift to the Michigan Tech Fund and receive a maximum $100 credit; married taxpayers can make a $400 gift and receive a maximum $200 credit.
(These are just guidelines. We recommend you consult your personal tax advisor for specific tax savings.)
Corporate Matching Gifts
Many of Tech's alumni and friends work for one of more than 1,000 companies that match employee gifts to colleges and universities. These programs double, and sometimes triple, the benefits to Michigan Tech. If you work for a matching gift company, please take the necessary steps to ensure your gift will be matched. If you don't know if you work for a matching gift company, ask your employer‘s personnel office.