The 50th Reunion Gift
A Message from Your Reunion Committee
Your 50th Reunion Committee set a goal of 70% of our class to take part in our Class Gift. The Class of ‘68 had a rate of 63% and for ‘69 it was 67%.
We know that 1970 can make the slight increase to 70% participation. Any gift, cash or a planned gift counts. So, your pledge of an amount paid over the next 5 years makes a big difference.
We can do it with your help!
What are our Class Gift Goals?
We have four goals:
- Raise $6,000,000 (includes both planned and outright gifts)
- Of that, raise $500,000 for the Macalester Fund
- Achieve 70% participation
- Welcome 15% of classmates as members of the James Wallace Society, Macalester’s recognition society for those who have included Mac in their estate plans.
What Counts towards 1970’s Class Gift?
- Macalester Fund. Gifts and pledges made during the fiscal year of your Reunion will count, as will multi-year pledges (five years total) and five years’ worth of Sustainer Gifts. Reminder: Macalester’s fiscal year runs from June 1 to May 31.
- Gifts through your IRA. Required minimum distributions are a simple yet effective way to support the class gift. Gifts can support the Macalester Fund or other campaign priorities.
- Scholarship Gifts. You may choose to add any amount to an already existing scholarship or create your own named, endowed scholarship. With a gift of $50,000 or more, you will become a fund contact and receive annual stewardship reports. The minimum funding amount for a named, endowed fund is $100,000 and may be pledged over five years, or created through a planned gift or a blended gift (see more below). We invite gifts to the Alumni Endowed Scholarship Fund, the Jimm Crowder and Steve Colee Endowed Scholarship (supporting international students), and Macalester Multicultural Endowed Scholarship, among others.
- Outright gifts to other Macalester Moment campaign priorities will count towards the class gift. In addition to scholarship support, these include student/faculty research, career development, internships, the entrepreneurship program, curricular development, and faculty support. To learn more about supporting one of these areas, please contact Theresa Gienapp at the contact information listed below.
Planned (or Deferred) Gifts:
- Bequests (non-contingent) that are documented in writing will count at face value. For intentions expressed as a percentage of the estate, a good-faith estimate is used to determine the amount of the gift.
- Retirement Assets: Naming Macalester as a beneficiary of part or all of your retirement assets such as a gift from your IRA, 401(k), 403(b), pension or other tax-deferred plan is an excellent and simple way to make a gift.
- Life Insurance: If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your insurance policy. For example, you may have purchased a policy to provide for minor children and they are now financially independent adults.
- Establish a charitable gift annuity with Macalester
- Contribute $15,000 or more and receive a stable, reliable income for life.
- Receive an immediate tax deduction.
- The most common assets used are cash, stock, or mutual fund shares.
- Payout rates are determined by the age(s) of the annuitants:
- 5.8% for one annuitant, 72 years old
- 5.2% for joint annuitants, both 72 years old
- Establish a charitable remainder unitrust with Macalester
- Receive variable payments for life with the remainder going to Macalester.
- The minimum funding amount is $100,000 and can be funded with cash, stock, mutual fund shares, or real estate.
- Payout rates are negotiated and generally range between 5% and 6%.
- Blended gifts make it possible for donors to establish a named endowed fund through a combination of outright and deferred giving.
- Several campaign priorities are able to be funded through blended gifts.
- Donors are required to commit $50,000 outright, payable within 5 years, and document an estate provision for the balance of the required minimum threshold for the fund. (Most common minimum is $100,000)
- When the fund reaches the minimum threshold through the bequest, the restrictions of the fund will be activated, as documented through the endowed fund agreement.