A Lifetime of Giving Back

Mike Holmes speech For Mike Holmes '67, giving to MSOE is nothing new. "I started donating to MSOE back in the 1970s," he recalled. "Since I received a scholarship to attend MSOE, it seemed logical for me to try to give something back. I started out with small donations and, as my career grew, I was able to slowly give more." Holmes' lifetime employer, General Electric, matched his contributions. "GE's charitable matching program was a good incentive for me to give."

Today, Holmes has established a scholarship fund that provides four sophomore electrical engineering students $10,400 annually towards their tuition costs. "I felt that if the students showed they could handle freshman year at MSOE, then they have proved themselves and deserved a little extra help. I fund the scholarship on an annual basis but I've also established an endowment, so when I pass the scholarship will live on in perpetuity."

Supporting students is important to Holmes. "I felt I was successful in my career at GE, and was able to stay there for 39 years thanks in part to my MSOE education. Since MSOE furnished me with a scholarship and helped me maintain what I was doing, I wanted to help MSOE students and give something back."

One of Holmes' scholarship recipients, senior Scott Ambelang, is especially thankful for the assistance the scholarship has given him. "The Michael J. Holmes Scholarship gave me the opportunity to attend MSOE. Without Mr. Holmes' generous gift, I would not have been able to afford MSOE and would have missed several life-changing opportunities," said Ambelang.

Holmes was able to meet his scholarship recipients (Ambelang included) at a recent Scholarship Luncheon held at MSOE. "I enjoy funding the scholarship, especially when I get to meet the recipients. Last year one of my scholarship recipients gave a speech at the luncheon, and another one studied abroad in Germany. I'm happy to be able to put a face with the name, and it makes me proud to know that the money is helping them."

Have you made your planned gift yet? Let's start the conversation now. Call Jonathan Kowalski, JD at (414) 277-4510 or kowalski@msoe.edu. Learn how your planned gift can make a lasting impact.

A charitable bequest is one or two sentences in your will or living trust that leave to Milwaukee School of Engineering a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to Milwaukee School of Engineering, a nonprofit corporation currently located at 1025 N. Broadway, Milwaukee, WI 53202, or its successor thereto, ______________* [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to MSOE or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to MSOE as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to MSOE as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and MSOE where you agree to make a gift to MSOE and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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