Category Archives: Students

John and Joan Calder: Charitable Remainder Trust–A Tax-Free Sale

Calder
John and Joan Calder

Years ago, John Calder set an optimistic goal for himself. “I wanted to give Tech $1 million,” he says. “When I decided to do that, it seemed like an insurmountable mountain.” Now he is scaling the peak.

John earned a BS in Mechanical Engineering in 1967 and an MS in Business Administration in 1976, both from Tech. Now CEO of Cincinnati Controls, he has a talent for buying struggling businesses and turning them around. So, when the time came to sell one, he was faced with paying capital gains on $300,000. “I wanted to ensure that my wife, Joan, would be taken care of if something happened to me,” he says. “At the same time, I wanted to help Michigan Tech.”

The solution was a charitable remainder unitrust, or CRUT, which allows the Calders to avoid capital gains taxes. “It will give Joan funding to live on, and when we are both gone, the principal goes to Michigan Tech,” says John. They also give through a universal life insurance policy and are longtime annual supporters.

Along with supporting other University programs, they have established the Calder Systems and Controls Laboratory in the Department of Mechanical Engineering – Engineering Mechanics, which provides hands-on training in electrical controls. John credits that kind of practical preparation for launching his career and enabling their generosity. “When I graduated from Tech,” he says, “I could walk out onto the factory floor with a screwdriver and an oscilloscope and make things work.”

Now, they are looking at expanding their philanthropy by endowing an assistant or associate professorship for $500,000. “We’d like to support new faculty members who are just starting out,” he says. With this new gift, the Calders will be underwriting research and undergraduate education at Tech, two missions John sees as intertwined. “I view research as an addition to undergraduate education,” he says. “We need both.”

*Please note: Since your unitrust benefits may be different, you may want to click here to view a color example of your benefits.


Because of Ron

Students who have received scholarships funded by Ron Pasquinelli.This retired civil engineer is still building—for the future.

“Seven graduated. All have jobs. Two are going right into PhD studies. One into a master’s.” Bill Roberts, associate vice president for advancement and alumni engagement, reels off the latest student progress report to Ronald J. Pasquinelli ’59.

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Walking Down the Same Halls: Lina Taskovich

Written by The Graduate School at Michigan Tech

Filling out financial aid paperwork before the first year of college can be stressful. Thankfully, a number of aid options are available to most students, including grants and scholarships. This support is made possible through the generosity and foresight of a great number of donors.

For students in graduate school, the options are much fewer. Last year, around 87 percent of master’s students at Michigan Tech were self- funded without University financial aid, mirroring nearly identical numbers seen around the country. While loans are available to help cover expenses, a helping hand is most welcome for those in advanced study.

Lina Taskovich, a 1952 Tech graduate, established the Natale and Maria Luisa Tormen Endowed Scholarship to benefit students from Ecuador or Italy, the two nations making up her heritage. Without a significant student population hailing from either Ecuador or Italy in the undergraduate ranks, financial aid staff and the Graduate School were informed by John Gierke of the Department of Geological and Mining Engineering and Sciences about a graduate student who would benefit greatly from Lina’s generosity.

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906 Callers

Tech Line callers

Who’s on the other end of those Michigan Tech phone calls? The answer may surprise you. (Hint: it’s not just about updating records and collecting money.)

Read more about the students who will tell you about what’s happening on campus, want to learn what you’ve been up to since you graduated, and can help you help Michigan Tech.