Charitable Gift Annuity
A simple way to give an receive a fixed income
A charitable gift annuity is a simple contract between you and the Michigan Tech Fund. In exchange for your irrevocable gift of cash or securities, the Fund contractually agrees to pay a fixed sum each year for life to the one or two annuitants named by you. The older your designated annuitants at the time of the gift, the greater the fixed income the Fund can agree to pay. Payments are made in quarterly installments.
You may establish a charitable gift annuity with the Fund through a gift of $10,000 or more. Your annuitants must be at least 55 when payments begin. Regulations on charitable gift annuities may vary by state of residence, and they may not be available in all states.
Benefits of a charitable gift annuity
- Simplest way to gain fixed income for life
- Immediate tax savings
- Income is partially tax free
- May minimize or defer capital gains tax on gift of appreciated securities
- May increase your current income by converting low-yield assets
- Remaining assets in gift annuity will support your favorite Michigan Tech program
Read a Story about a donor who gave a Charitable Gift Annuity
McNair Society
The McNair Society recognizes those who have left a legacy for Michigan Tech by providing specific bequests or planned gifts through their estates. This giving society is named for Fred McNair, Michigan Tech's president from 1899-1924. Through McNair's vision and commitment to leave a legacy for future Michigan Tech students, the fledgling college grew and prospered during his presidency.
If you would like more information about the McNair Society or are considering including the Michigan Tech Fund in your estate plans, please contact Eric Halonen (ehalonen@mtu.edu), (906) 487-3325. If you have already included the Michigan Tech Fund in your plans and would like to be recognized, please let us know. We would be pleased to honor you as a member of the McNair Society. Please contact Eric Halonen or fill out the McNair Society Declaration of Intent form here on our website and return it to the Michigan Tech Fund (address) to Mr. Halonen's attention.
View the McNair Society Declaration of Intent Form