Including a gift to the SME Education Foundation in your will or trust or making the SME Education Foundation a beneficiary of your retirement account or life insurance policy, can be a simple way to have a significant impact.
Your legacy gift will help to inspire, prepare, and support future generations of manufacturing and engineering professionals and help make the dream a reality for those young people who aspire to a prosperous career in manufacturing. You can choose to provide long-term financial support via planned giving options such as:
A gift to the SME Education Foundation in your will or revocable trust enables you to support our mission and make a difference in the lives of future generations. A bequest is easy to arrange and will not alter your current lifestyle. It will reduce the burden of taxes on your family and can be easily modified to address your changing needs or desired impact.
Sample bequest language:
I give and devise to SME Education Foundation, Tax ID: 38-2746841, located in Southfield, Michigan, the sum of $___________ (or asset)(or percentage of residual) to be used for its general support (or for the support of a specific fund or program)..
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You can make gifts to the SME Education Foundation that will provide you with income. Charitable remainder trusts, charitable annuity trusts, charitable gift annuities and other vehicles all have one substantial advantage over traditional investment vehicles: You receive income for life, or for a set period of time, while ensuring a generous gift to the SME Education Foundation that endures beyond your lifetime.
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You can donate part or all of your unused retirement assets — such as your Individual Retirement Account (IRA), 401(k), 403(b), pension or other tax-deferred plan — to the SME Education Foundation.
How It Works:
- Name or designate the SME Education Foundation as a beneficiary of your IRA, 401(k), or other qualified retirement plan.
- Pass the balance of your retirement assets to the SME Education Foundation by contacting your plan administrator.
- Important! Tell the SME Education Foundation about your gift. Your plan administrator is not obligated to notify us, so if you don't tell us, we may not know.
Benefits:
- Continue to take regular lifetime
- Maintain flexibility to change beneficiaries if your family's needs change during your lifetime.
- Your heirs avoid the potential double taxation on the assets left in your retirement account.
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You can make a tax-smart gift to the SME Education Foundation by donating appreciated real estate — such as a home, ranch, vacation property, undeveloped land, farmland or commercial property.
How It Works
- You deed your home, vacation home, undeveloped property, or commercial building to the SME Education Foundation.
- The SME Education Foundation may use the property or sell it and use the proceeds to further its mission.
Benefits
- You receive an income tax deduction for the fair market value of the real estate.
- You pay no capital gains tax on the transfer.
- You can direct the proceeds from your gift to a specific program at SME Education Foundation
- The opportunity to retain use of the home or property during your lifetime
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