Option #1: Making a Multi-Year Annual Fund Commitment
- Gifts to the Annual Fund are the foundation of giving. These gifts support on an annual basis the operations of the college and specifically provide funding for the Law Review, clinics, scholarship needs.
- We’re encouraging Mitchell alumni and friends, as part of the “If Not for Mitchell” Campaign, to make multi-year commitments of five years or more to the Annual Fund. This helps the college in its financial planning and helps donors in that they won’t be bothered with Annual Fund solicitations or phone calls during the period of his or her pledge.
Option #2: Create Traditional Named Scholarship Endowment
- A named endowment is created with a minimum commitment of $25,000, payable over 5 years. The endowment is invested and continues to grow in perpetuity.
- Scholarship is awarded once endowment hits a minimum of $25,000. Payout on the endowment is 5% annually. For $25,000 endowment, payout for scholarship is $1,250 a year.
Option #3: Create Named Living Endowment
A living endowment includes designating a named endowment in your bequest or will. Then you put it to work immediately through annual gifts, enabling you to see the impact of your giving right now.
Sample Living Endowment with Annual Gifts of $2,500
- Bequest commitment—$50,000. Would be put into an endowment, paying out 5% or $2,500 a year for the scholarship or other program.
- Annual commitment to put the program to work immediately: $2,500/year for 10 years.
|Annual Gifts for 10 years||$25,000|
Option #4: Include Mitchell as a Beneficiary of IRA or Will
A bequest from a will, living trust or IRA lets you pass the amount you wish to Mitchell free of estate and other taxes. For a bequest, you can commit cash, specific property or a percentage of your estate, with restrictions or without. Because your gift doesn’t come to us until after your lifetime, you can change your mind at any time.