Category Archives: Gift Planning

Your Family Letter

Writing a letter to your family is an excellent way to provide key information to your family after your passing while sharing with them a personal message of love and wisdom. Learn how to create your family letter as part of the estate planning process.

Please visit our website at mtulegacy.org for free estate planning tools.  

Email giftplan@mtu.edu to request our new brochure, Your Guide to Effective Giving After Tax Reform.

 

 


Did you know you can make a gift to Michigan Tech and receive fixed income for life?

A charitable gift annuity is a giving vehicle that allows you to enjoy tax benefits and an income stream in exchange for your gift of cash or appreciated assets. Learn more about life income gifts or use our gift planning calculator.

Please visit our website at mtulegacy.org for free estate planning tools. 

Email giftplan@mtu.edu to request our new brochure, Your Guide to Effective Giving After Tax Reform.


Health and Wealth: 10 Mistakes to Avoid

Start with a plan for your health and wealth by exploring this roadmap provided by Northern Trust and their partner, Pinnacle Health.*  (waiting for link from NT)

https://wealth.northerntrust.com/roadmap

With many tips on how to make good decisions when it comes to your health and wealth, experts also believe it’s important to point out common and avoidable health care and financial wealth mistakes.

Health Care Missteps
 1. Not having a plan – not preparing for age-related health issues
 2. Not knowing your or your family’s health history
 3. Not having swift access to key medical records
 4. Being passive or withholding questions during doctor visits
 5. Ignoring lifestyle factors proven to affect health, vitality and longevity (e.g., smoking,
     weight, exercise)
 6. Ignoring symptoms, therefore preventing early detection
 7. Allowing a busy professional life to prevent you from vital screenings (e.g., mammograms,
     colonoscopies)
 8. Getting only one opinion in the case of a serious diagnosis
 9. Traveling without medical preparation
10. Being unaware of rapidly changing medical advances

Financial Missteps
 1. Not having a financial plan until a crisis happens
 2. Not having (monitoring) a good credit history
 3. Not having a sufficient cash reserve
 4. Letting someone else “take care of the finances” without your review or awareness
 5. Inadequate, or inappropriate, health, life, disability, property and casualty insurance
 6. Living beyond your means
 7. Chasing the “hottest” investments
 8. Improper beneficiary designations on retirement plans and life insurance
 9. Not updating estate documents as life events occur
10. Not reviewing your income taxes annually

For more information on providing for your family and planning for your future, please visit our website at mtulegacy.org for free tools. 

Northern Trust manages the Michigan Tech Fund endowment and other investments and offers this information as an educational service. This article used with permission from Northern Trust.


Gifts of Appreciated Securities

For years, you have carefully invested and watched your savings grow. What took a lifetime to build can be instantly lost through capital gains tax when you sell. But it doesn’t have to be that way. Rather than sell your stock, consider giving some of it to the Michigan Tech Fund. You won’t pay any taxes and you receive an income tax deduction for your gift.

Benefits to you:

AVOID capital gains taxes on the sale of your appreciated assets.

RECEIVE an income tax deduction for the full amount of your gift.

GIVE more this year without impacting your cash flow.

CAPTURE the value of your stock and end the worrying about market ups and downs.

PUT your gift to work right away for the Michigan Tech programs you care about most.

Gifting appreciated securities in place of cash may be a smart philanthropic and tax-wise alternative. You can learn more about giving stock to Michigan Tech


Invest, Plan, Provide for Your Future

As a young alum you are on your way to great success in life. And, time is your greatest asset in terms of investing and planning for your future. One of the best things you can do right now is consider the steps you will take to provide for yourself, your family, and causes that are important to you.  Small steps you can take today:

  • Name beneficiaries for your retirement plan assets and life insurance.
  • Designate Pay on Death or Transfer on Death beneficiaries for your investments, checking or savings accounts.

For more information on providing for your family and planning for your future, please visit our website at mtulegacy.org for free tools.  

Northern Trust manages the Michigan Tech Fund endowment and other investments and offers this information as an educational service.


Bill Jackson ’58, Provided Lasting Impact to Michigan Tech

jackson-william-personnelMichigan Tech is mourning William “Bill” G. Jackson, who passed away peacefully on March 1 in Scottsdale Arizona. Jackson graduated from Michigan Tech in 1958 with a BS in Electrical Engineering. His generosity is a perfect example of the impact a single individual can have. Jackson made multiple transformational gifts that continue to make a lasting and dramatic positive impact on campus.

Jackson’s first gift to Tech was made in July of 1973. He and his wife, Gloria, continued supporting the University with numerous gifts over the years. These gifts supported departments and initiatives including the Annual Fund, the Class of ’58 Endowed Scholarship, the Industrial Archeology Program, and the Rozsa Center. The couple made their first major gift when they established the William and Gloria Jackson Endowed Scholarship in 1998. This provided scholarships for undergraduate students majoring in electrical engineering, with preference given to graduates of Calumet High School, which provided Jackson, who remembers his roots, with a start in life that he continued to value.

In 2006 Jackson was presented with the Distinguished Alumni Award, the Alumni Board of Director’s highest honor, for his professional achievements, for being a model of the entrepreneurial spirit, for being a champion of higher education, and for bringing distinction to Michigan Technological University.

And still Jackson continued giving. Another major gift, given with his late wife Gloria in 2007, established the William and Gloria Jackson Professorship Endowed Fund which focused on bridging information technology and entrepreneurship. The gift arose from Gloria’s strong belief in the power of endowments and Bill’s strong respect and appreciation of the Department of Electrical and Computer Engineering. The generous gift both established and provided recruiting funds for the endowed professorship now held by Dr. Timothy Havens, associate professor in Electrical and Computer Engineering and Computer Science and director of the Data Sciences graduate program and ICC Center for Data Sciences.

Dr. Havens says the William and Gloria Jackson position invaluable. “It provides funds for the Jackson Fellowship that I use to recruit exceptional graduate students. These students are able to work on higher risk/higher reward research, which is beneficial for both the student and also myself. Brian Flanagan, an accelerated master’s student, is the Jackson Fellow and is investigating how advanced data science can be used to predict maintenance in large fleets of vehicles.” This project has allowed Havens to build a new collaboration with Ford.

But Jackson wasn’t done yet. Another major gift, in spring 2013, made dramatic changes almost immediately and continues to support students and instructors. The William G. Jackson Center for Teaching and Learning, on the Van Pelt and Opie Library’s second floor, was constructed. It includes spaces and equipment for faculty training on new teaching methods and technologies including assessment, recorded lectures, and the Canvas learning management system. Though novelties at the time, all now enjoy widespread, effective use in Michigan Tech classes, and more than half of Michigan Tech instructors connect with the Jackson CTL annually for training and support.

In 2013, Jackson’s gift established a secure testing center that allowed local administration of the fundamentals of engineering and other commercial exams as well as support for accommodated exams. Demand for the use of this center has grown exponentially resulting in a summer 2016 expansion (also supported by the gift). In its first fall semester, about 70 exams were administered; today, it’s not uncommon for the center to give that number in a single day, with semester totals approaching 3,000.

Jackson’s gift helped to install lecture capture capabilities in 20 university classrooms, another trend that has continued to grow. (There are now 38.) During fall 2017, more than 5,000 hours of video was reviewed by students, with captures in over 100 different sections. The Jackson gift has provided much needed technology upgrades in several university classrooms, and fully supported the creation of the 60-seat Jackson Active Learning Center in the basement of Rekhi Hall which is tailored to the blended learning classroom model.

Jackson believed the most important impact were the opportunities his gifts created for people. In addition to providing initial full support of the testing center coordinator position, the gift has funded more than 20 blended learning and online curriculum development grants for instructors in almost all Michigan Tech departments. His gift provided the basis for an equipment loan program, and the impetus to begin a program that helps instructors learn how to teach online.

When Jackson visited campus in July 2014 to celebrate the opening of the Center that bore his name, Director Mike Meyer was especially struck by Bill’s humility, his desire to make a lasting difference, and his people focus.

“Bill brought two of his grandchildren along to the open house event,” Meyer says. “It was clear that his family was of paramount importance to him, and he wanted the kids to see the Center and understand his legacy. After a tour of both the CTL and the Testing Center his gift had created and a chance to visit with many of the instructors supported through grants, I tried to thank Jackson formally for his gift. Bill’s humble response? ‘It’s just great to have good people to put the money to work.’”

Bill and his family can rest assured Michigan Tech will continue to treasure his legacy. His transformational gifts will help students and instructors at Michigan Tech for many years to come.


Practicing Catalyst Philanthropy—Robert and Ruth Nara

photo of Bob and Ruth Nara
Robert and Ruth Nara
Bootjack, Michigan

Gift Designation
Michigan Tech Trails

Type of Gift
Cash Gifts

If Bob and Ruth Nara were to craft a mission statement, it would read, “Leave the world a better place.”

Residents of Bootjack, in Lake Linden, Michigan, the Naras practice what they call catalyst philanthropy, or gifts that inspire other gifts. One of the most famous of their projects is the Nara Nature Park in Houghton, where visitors enjoy boardwalks around the Pilgrim River, trails up through the woods, and bridges over creeks.

“After a lifetime of paying taxes, we devised a concept that we, in effect, tax the government to fund our hobbies,” Bob says. “We donated a valuable piece of real estate to the City of Houghton for parks and recreation purposes.”

Then, they helped get grants to fund skiing and hiking trails as well as a chalet on the property. They provided a cash gift to the University to expand the Tech Trails to the park, creating a fifty-mile network of trails for year-round use.

The Naras support Michigan Tech in other ways. They made a gift-in-kind that helps to document the region’s past: Bob’s grandfather was a well-known local photographer, and the family has donated many of his images to the Michigan Tech Archives and Copper Country Historical Collections. Bob and Ruth then funded scanning equipment so the archives can make its images available via the Web. They also are donating their proceeds from the sale of a book of J. W. Nara’s photos to the Tech archives.

In addition, they initiated semiannual luncheons at which Michigan Tech’s president updates local community leaders on the University’s progress and plans. If unable to line up a sponsor for the luncheon, they have paid the cost themselves.

To the Naras, paying it forward is a way of life.

“Leave a legacy that will keep on living and keep on giving,” Bob says. “How can you beat a hobby like that?”

For more information on the wide range of options to support Michigan Tech, contact the Office of Gift Planning.


David House—Leading Tech’s Strategic Initiatives

David House
David House
Saratoga, California

Gift Designation
Endowed Professorships
Other Strategic Objectives

Type of Gift
Cash Gifts/Pledge

David House made a $10-million pledge to Michigan Tech’s national campaign. With most of the contribution to come during his lifetime, including two endowed professorships established recently, it is the largest outright gift ever received by Michigan Tech.

David is the volunteer chair of the University’s national fundraising campaign. His giving will support Michigan Tech’s strategic objective of becoming a world-class public research university. He said, “Increasing complexity in every field has driven the need for more advanced degrees, and Michigan Tech must meet that need. A well executed strategic plan will attract and retain the best faculty needed to propel Michigan Tech nationally into the top quadrant and better prepare tomorrow’s students for tomorrow’s world.”

David earned a BS in Electrical Engineering at Michigan Tech in 1965 and was a longtime Intel executive. He currently is chairman of Brocade Communication Systems of San Jose, California.

For more information on the wide range of options to support Michigan Tech, contact the Office of Gift Planning.


John and Cathi Drake—Attracting Top Scholars and Researchers

John and Cathi Drake

John and Cathi Drake

Warren, Ohio
Hancock, Michigan

Gift Designation

Endowed Professorship Mechanical Engineering

Type of Gift

Bequest
Cash Gifts

John and Cathi Drake have endowed a professorship in their name within the Department of Mechanical Engineering–Engineering Mechanics. They provide for a $1 million endowment through their will; in the meantime, they support the position with annual gifts to fund research by the Drake Professor.

John earned a bachelor’s degree in mechanical engineering in 1964 and a master’s degree in business administration in 1969. “Nobody was better prepared to understand and solve problems than Tech grads were,” he says. “We competed with engineers from around the world and beat them to a standstill.”

The couple founded Drake Manufacturing Services in Warren, Ohio, in 1972. The firm specializes in computer-controlled industrial equipment. “I had the self-confidence that was needed to survive the ups and downs of a technology-based start-up,” he says. Cathi managed the front office and helped maintain communications with employees. “She was a big help in hard times because she was seeing the problems first-hand,” he recalls.

Their management team bought the business from John and Cathi in 2007, and the ME-EM endowment was established later that year. “It was time to give back,” John says.

“We gave our two daughters strong values and the wings to fly on their own,” he says. “Fortunately for us, they are both enjoying successful careers, leaving some room in our estate plan to think of others.”

The Drakes’ stewardship for Michigan Tech is based on trust as well as loyalty. “As a donor, you need to believe it’s all worthwhile,” John says. “We are comfortable with Tech’s mission and vision. That makes it easy for us to support the school, and since Tech played such a big role in our success, it is a no-brainer to help the new generation.”

For more information on the wide range of options to support Michigan Tech, contact the Office of Gift Planning.


Transforming the Student Learning Experience—William Jackson

photo of William Jackson
William Jackson
Paradise Valley, Arizona
Eagle Harbor, Michigan

Gift Designation
Endowed Professorship
University-wide

Type of Gift
Cash Gifts

The generosity of William G. Jackson has made it possible for Michigan Tech to transform the learning experience for students across campus. His recent outright gift of $1 million will fund the William G. Jackson Center for Teaching and Learning. The center will bring together a full suite of technological tools to upgrade teaching, learning, learning assessment, and student assessment of teaching.

Plans include $435,000 for classroom technologies that will allow faculty to easily bring more content into the classroom and record classes for later student review. A secure testing center for standardized tests will also be installed at a cost of $170,000. An additional $395,000 will be devoted to meeting faculty needs.

The founder and president of CableAmerica, Bill has a long-standing affinity with Michigan Tech, which is evident in the guidance, resources, and support he has extended to the University over the years. He and his late wife, Gloria, established the William and Gloria Jackson Endowed Professorship in 2007, as well as an endowed scholarship in 1999.

A native of Laurium, Michigan, Bill graduated from Michigan Tech in 1958 with a bachelor’s degree in electrical engineering. He is a member of the Department of Electrical and Computer Engineering’s Academy and has received the Board of Trustees Silver Medal and Michigan Tech’s Distinguished Alumni Award.

For more information on the wide range of options to support Michigan Tech, contact the Office of Gift Planning.