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Alumni & Foundation

Giving Plans

Will A specific bequest can be listed in the will to give money to the Mitchell Technical College Foundation. It can be a specific dollar amount or a percentage of the donor’s estate.
Retirement Plan Assets A donor could name the Mitchell Tech Foundation as a beneficiary on their retirement accounts. If they want their spouse to be the primary beneficiary, they can name the Foundation as the contingent beneficiary.
Life Insurance Again, the donor can list the Mitchell Tech Foundation as a beneficiary to the life insurance policy.
Real Estate Land and property can be gifted directly to the Mitchell Tech Foundation.
Charitable Gift Annuity A donor can give money or assets to the Mitchell Tech Foundation in exchange for the Foundation to pay a fixed amount back to the donor for life or a term of years.
Annuity Trust A trust that is created to pay the donor a fixed amount every year. This would be beneficial to the donor by knowing a fixed amount that they will be receiving for budgeting purposes.
Unitrust A trust that is created to pay the donor a percentage of the income every year.
Charitable Lead Trust A trust created where the income from the assets in the trust are donated to the Mitchell Tech Foundation throughout the donor’s lifetime. Upon the death of the donor, the beneficiary would get the principal.
Charitable Remainder Trust A trust created where the income from the assets in the trust go to a specific beneficiary throughout the donor's lifetime. Upon the death of the donor, the Mitchell Tech Foundation would get the principal.
Individual Appreciated Assets When an asset has appreciated greatly in value there would be a capital gain incurred when selling that asset. A donor could gift that asset to the Mitchell Tech Foundation and there would be no capital gain incurred. A good example would be stock or real estate.

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