Gifts That Cost You Nothing Now
Gifts in a will or by beneficiary designation are two easy ways to support generations of students to come — and they don’t cost anything now.
Gifts in a Will
Making a legacy gift in your will or trust is one of the easiest and most popular ways to make a lasting impact for CMU. By simply signing your name, you can create a legacy of outstanding education.
Once you have provided for your loved ones, we hope you will consider making our mission part of your life story through a legacy gift.
A gift in your will is one of the easiest ways to create your legacy and offers the following benefits:
Costs you nothing now to give in this way.
You can alter your gift or change your mind at any time and for any reason.
Your gift will create your legacy of outstanding education.
Four simple, “no-cost-now” ways to give in your will
Leaves a gift of a stated sum of money to CMU in your will or living trust.
You can mix these no-cost ways together. For example, you might consider leaving a specific percentage (such as 50%) of the residual to CMU or your local council contingent upon the survival of your spouse.
Gifts by Beneficiary Designation
It’s easy to put your bank accounts, retirement funds, savings bonds, and more to use in preparing students to become the leaders of tomorrow — and it costs you nothing now.
By naming CMU as a beneficiary of these assets, you can power our mission for years to come and establish your personal legacy of outstanding education.
Reduce or eliminate taxes
Reduce or avoid probate fees
No cost to you now to give
Create your legacy with CMU
To name CMU as a beneficiary of an asset, contact the custodian of that asset to see whether a change of beneficiary form must be completed.
How to Change a Beneficiary Designation
Login to your account or request a Change of Beneficiary Form from your custodian (the business holding your money or assets).
Follow the links to change your beneficiary or fill out the form.
Be sure to spell the name of our organization properly: Central Michigan University
Include our tax identification number: 38-6004447
Save or submit your information online or return your Change of Beneficiary Form.
Types of Gifts
A gift of retirement funds
You can simply name CMU as a beneficiary of your retirement plan to make an immediate and lasting difference for students.
A gift of funds remaining in your bank accounts, brokerage accounts or certificate of deposit (CD)
This is one of the easiest gifts to give and one of the most useful in accomplishing your philanthropic goals. The next time you visit your bank, you can name CMU (Tax ID: 38-6004447) as the beneficiary of a checking or savings bank account, a certificate of deposit (CD), or a brokerage account. When you do, you’ll take a powerful step toward changing the lives of students for generations to come.
Donor-Advised Fund (DAF) residuals
What remains in a donor-advised fund is governed by the contract you completed when you created your fund. When you name CMU as a “successor” of your account or a portion of your account value, you enable us to help deserving students dream big and reach their potential.
If you have bonds that have stopped earning interest and you plan to redeem them, you might owe income tax on the appreciation. That could result in your heirs receiving only a fraction of the value of the bonds in which you invested. Since CMU is a tax-exempt institution, naming us as a beneficiary means that 100% of your gift will go toward changing the lives of students.