Ways to Make a Gift to the Foundation

1. Gift of cash: Cash gifts can generally be deducted up to 50% of your adjusted gross income. For example, a $10,000 cash gift in a 28% tax bracket, could save $2,800 in taxes.

2. Cash pledged over a period of years: Cash pledged over a period of years  is not deductible until you actually pay. For example, a $30,000 cash gift pledged over three years ($10,000 paid each year) in a 28% tax bracket, could save $2,800 in taxes each of the three years.

3. Appreciated stock: Appreciated stock you have held for more than one year makes an excellent gift. Generally, you can receive a tax deduction for the full market value up to 30% of your adjusted gross income and avoid capital gains taxes.  

4. Bonds and mutual funds: Bonds and mutual funds are similar to cash in their tax treatment with a tax deduction for the full value of the gift. State, Municipal, and U. S. Government Bonds are welcome.

5. CD's, saving accounts, brokerage accounts, checking accounts with Payable On Death (P.O.D.) provisions:  The donor retains full ownership and full control of these accounts during their life. Upon the donor's death, the account balance is paid to the NMMI Foundation immediately and without probate.

6. Gift annuity: In exchange for an irrevocable gift of cash, stock or securities, the NMMI Foundation, Inc., agrees to pay the donor or other beneficiary a guaranteed income for life. The donor can receive an  income tax deduction in the year of the gift and part of the income is tax-free. Upon the donor's death, the gift remainder is managed by the Foundation for the benefit of  NMMI.

7. Deferred gift annuity: A deferred gift annuity is similar to a gift annuity (#6) except that payments begin at a future date determined by the donor, i.e., retirement. The deduction and annual rate of return increase the longer you wait to start payments. 

8. Pooled income fund: A pooled income fund is similar to a mutual fund whereby the donor receives a portion of the fund's annual income. The donor also receives a tax deduction and can generally avoid capital gains taxes if the gift is made with appreciated securities. Additions can be made easily. Upon the donor's death, the fund is available to the NMMI Foundation, Inc.

9. Charitable remainder trusts (irrevocable, annuity, and unitrusts): A donor can select the rate of return from these income arrangements and also choose a fixed or fluctuating annual payment. Generally, capital gain taxes are avoided and the donor will receive a tax deduction based on the age of the income recipient and the rate of return.

10. Charitable lead trust: In a charitable lead trust, assets (cash or securities) are transferred to a trust that pays income from the fund to the  NMMI Foundation, Inc.  for a predetermined number of years. At the end of the time period, the trust terminates and the assets are given back to the donor or other designee. An income tax deduction is allowed for payments made annually to the Foundation. 

11. Bequest through will: One of the simplest ways to give is through your estate. You can make a gift bequest after others have been provided for of a dollar amount, specific property a percentage of the estate, or what is left (remainder) to the Foundation.

12. Revocable charitable living trust: The revocable trust provides for gifts of cash, property, and/or income now, while retaining the rights to retrieve the property if necessary. There is no tax deduction for the gift but generally, there are savings in estate settlement costs if the trust is not revoked.

13. Gift of life insurance: A simple way to make a significant future gift is to name the NMMI Foundation, Inc., as owner and beneficiary of an existing life insurance policy. You will receive a tax deduction for the cash surrender value, thus reducing your tax liability in the year of the gift.

14. Purchase a new life insurance policy naming the NMMI Foundation, Inc., owner and beneficiary: With a modest annual payment you receive an income tax deduction for each premium payment made while providing a major gift to the NMMI Foundation. 

15. Retirement accounts: Retirement Account Funds (IRA's or company plans) beyond the comfortable support of yourself or loved ones may be given (i.e., life insurance proceeds) to the Foundation by proper beneficiary designation.

16. Personal property (collections - royalty rights, etc.): Gifts of personal property are welcome (collections, royalties, and mineral rights.) Charitable tax deductions are available in the year of the gift.

17. Outright gift of real estate: We will be happy to discuss a possible gift of land,  house, or vacation home. Generally, you can receive a tax deduction for the full fair market value, while avoiding all capital gain taxes.

18. Real estate with life tenancy: Generally, you can receive a substantial income tax deduction by giving (deeding) your home or farm to the Foundation. You continue to live there, maintain the property as usual, and even receive any income it generates. At your death, the Foundation will sell your property to support the needs of NMMI.

19. Gifts-In-Kind: Gifts of goods or services that are directly related to the mission of the Institute may be accepted by the Foundation.

20. Matching Gifts:  Often overlooked as a method of giving, matching gifts are offered by many corporations to encourage employees to make charitable gifts to eligible institutions like NMMI. You may have an opportunity to double or in some cases, even triple your financial support to NMMI.  Many times, gifts from spouses or retirees are also eligible.  To find out if your employer has a matching gift program, contact the personnel department for eligibility requirements and to obtain a matching gift form.

21. Memorial Gifts: Memorial contributions to the NMMI Foundation can be an excellent way to honor a loved one and help future generations of cadets through scholarship endowments, etc.  The Foundation will notify the family of your contribution without disclosing the amount of your gift.