The Gift That Keeps on Giving

Dr. Jack Blank smiling MSOE Regent Dr. Jack Blank has a long and well-established relationship with MSOE. "I came to Milwaukee in 1972 and I was introduced to MSOE by then-president Dr. Spitzer soon after," remembers Blank. "I came to MSOE a number of times with practical business problems that I needed help solving. MSOE faculty members were always willing to sit down and work out ways to approach problems using MSOE students and faculty along with my company's experts."

Blank, now the retired president of The Falk Corp., was impressed with the quality of MSOE students and graduates, many of whom went on to work full time at Falk. "One of the first things that caught my attention was when I heard MSOE engineering graduates weren't afraid to get their hands dirty. As a person who grew up in a sand-and-grease environment, I knew that meant they were learning the practical application of whatever field they studied," said Blank.

For Blank, who has served on the Board of Regents since 1983 and was awarded an Honorary Doctor of Engineering degree in 1990, establishing a planned gift was a logical extension of his involvement with the university. "My wife and I have set up a separate IRA for charitable gifts, and MSOE is included in that. I just feel good knowing that some of our assets will be directed towards helping individuals complete their education at MSOE."

"I like to think of your education as the most important gift you will ever receive," said Blank, "and I wish I thought that way 65 years ago when I was pursing my own degree. No one person, organization or political authority can ever take it away from you. The gift is open for all, but the value of that gift depends upon the recipient and on how hard he or she works. I like to be on the giving end of it. I like to know that someone can take advantage of it to enhance the value of their education."

Have you made your planned gift yet? Let's start the conversation now. Call Ted Fitzpatrick at (414) 277-7148 or fitzpatrick@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, [name], of [city, state, ZIP], give, devise and bequeath to Milwaukee School of Engineering [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 gift 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 receive an immediate federal income tax charitable deduction. 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 receive an immediate federal income tax charitable deduction. 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.

Personal Estate Planning Kit Request Form

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