(231) 591-2365
420 Oak Street
Prakken 101
Big Rapids, MI 49307
Other Ways to Give
A planned gift or gifts of stock, property, and in-kind are very thoughtful ways to support scholarships and programming at Ferris State University. There are many different ways to leave a legacy that will have an impact on both current and future students. At the same time, these gifts may also provide significant tax advantages to you and your heirs.
Planned Gifts
Planning for the future and creating the legacy you wish to leave is one of the most effective ways to ensure a lasting impact. Making a gift in your will or living trust, known as a bequest, can guarantee that your legacy endures. Your gift may be a specific dollar amount, a percentage of your estate or the remainder after all other provisions are specified.
Our federal tax ID number is 38-6115813
Sample Language for Drafting Your Bequest
For an unrestricted gift that allows The Ferris Foundation to determine how to use the funds based on the most pressing needs, use the following language for your will and/or trust:
"I give to The Ferris Foundation, a nonprofit corporation currently located at 420 Oak Street, PRK 101, Big Rapids, MI 49307, or its successors thereto,[written amount or percentage of the estate or description of property] for its unrestricted charitable use and purpose."
To designate your provision for a particular purpose:
"I give to The Ferris Foundation, a nonprofit corporation currently located at 420 Oak Street, PRK 101, Big Rapids, MI 49307, or its successors thereto,[written amount or percentage of the estate or description of property]. This gift should be used for [state purpose] if and so long as The Ferris Foundation determines that the need exists. If The Ferris Foundation shall determine at the outset or at a later time that the need does not exist, or no longer exists for some reason it is not possible (or prudent) to administer my gift as originally intended, the The Ferris Foundation may, in its sole and controlled discretion, direct the use of my bequest for a purpose related as closely as possible to that stated above."
If you have named The Ferris Foundation in your will or trust, please let us know so we can ensure that your gift is used according to your wishes. Notifying us of your plans will enable us to plan for the use of your future gift. However, if you prefer to remain anonymous, we will keep your name and gift in strict confidence.
Please contact The Ferris Foundation at (231) 591-2365 or [email protected] for more information.
A charitable gift annuity (CGA) is a contract between you and Ferris that provides a steady retirement income and also offers favorable tax benefits.
Charitable Remainder Unitrust
A charitable remainder unitrust (CRUT) is established by irrevocably transferring assets to a trustee, who invests the assets and pays a variable income to you and/or your beneficiaries. At the end of the CRUT term, the trustee distributes the remainder of the assets to Ferris.
Making a gift of life insurance can be a simple, impactful way to support the college and our students.
You can designate Ferris State University as the full, partial or contingent beneficiary of your life insurance policy, while still retaining ownership.
To make a gift of life insurance, contact your insurance provider to update your beneficiary designation form.
More Ways to Give
Gifts of appreciated property (securities and real estate) held for more than a year may be deductible, based on the fair market value of the gift, for up to 30 percent of your adjusted gross income with no capital gains tax on the appreciation. Consult your tax advisor for specific information. Call (231) 591-2157 to learn more, or visit the link below.
Gifts of Stock Instructions
Gifts of appreciated property (securities and real estate) held for more than a year may be deductible up to 30 percent of your adjusted gross income with no capital gains tax on the appreciation. The deduction is based on the fair market value of the property given. Consult your financial planner for specific information.
Please provide the following information to your stock broker:
Fedwire (Securities)
ABA# 021000018
BK of NYC/PERSHING
Fedwire (Payments)
The Bank of New York
New York, NY
ABA # 021000018
A/C Pershing LLC.
A/C # 890-051238-5
Account Number: F3C709738
FFC: Customer Name & Account Number (xxx-xxxxxx)
DTC Delivery: OHIO / 0443
MBSCC ID: PRSH
GSCC ID: 0443
NSCC: 0443
Foreign securities: DVP/RVP Euroclear #98730, Free of Payment #92146
Options clearing corp: 0443
Physical deliveries
NSCC/Envelope Service
Participant # 0443
Pershing
Attn: Domestic Clearance 9th floor
One Pershing Plaza (Lobby)
Grove Street PATH Station
Jersey City, NJ 07399
All instructions must include:
Account Name and Account Number (xxx-xxxxxx)
Please contact Fifth Third Brokerage Operations if you have any questions.
[email protected]
(800) 837-3652
Gifts of appreciated property such as real estate can have tax benefits to the donor. Please call (231) 591-2365 for more information about making a gift of property to the university.
Gifts of items such as equipment and educational materials are welcome. We accept any gift that is usable or can be easily sold to support university programs. In-kind gifts support our lab-based instruction and hands-on learning opportunities. Call (231) 591-3849 to learn more.
Faculty/Staff In-Kind Donation Form
In-King Gift Instructions
In-kind donations are gifts of tangible items (e.g. equipment, software, books, artwork, automobiles, educational materials and supplies) that represent value to Ferris State University. We welcome many in-kind gifts and are grateful when donors think of us with this form of philanthropy.
In-kind donations must indeed be tangible property. Unreimbursed expenses such as food, professional services, and limited use of private property are not considered tax-deductible, charitable gifts-in-kind by the IRS. We may receive such gifts, but the donor will not receive a receipt for the in-kind donation from Ferris State University.
If you are a faculty or staff member that has been contacted by a donor about an in-kind donation, please refer to the following:
- When evaluating the acceptance of in-kind gifts, consider if the gift is needed, wanted, and/or has use within your program/the University or if it can be sold to benefit your program/the University.
- Consideration should be given to the cost of accepting the gift (e.g., shipping and handling costs, installation charges, licensing fees, etc.), the long-term viability of the gift (e.g., maintenance costs, associated personnel needs, storage fees, insurance rates, copyright issues, etc.), and the resale market if the gift is to be sold.
- Some gifts, of course, will require paperwork documenting ownership (e.g., a signed title for a car or boat).
- If an appraisal is required, it must be prepared not earlier than sixty days before the date of contribution and not later than the due date of the tax return, including extensions. The appraisal must be prepared for the donor by a “qualified appraiser.” A qualified appraiser is an individual who regularly appraises property of the nature contributed. The qualified appraiser may be neither the donor, the University, any party to the transaction in which the donor acquired the property, nor anyone related to the donor or the University. The payment of fees associated with the appraisal are required to be made by the donor.
- Procurement of all equipment and software obtained on consignment for use by University students, faculty, and staff should adhere to the University’s Consignment of Equipment and Software for University Use policy.
- Any and all in-kind gifts must be recorded through the Advancement Office.
To report your department or program in-kind donations please complete the Notice of Receipt of In-kind Donation form according to the instruction below.
- If you have written an letter to the donor, please attach a copy to the form. When writing to the donor, please DO NOT refer to the value of the gift. The gift will be officially acknowledged by the Advancement Office in a format required by the IRS.
- Donors who wish to remain anonymous will not be included in any publicity or donor publications.
- For inventory control purposes, please list each item including model and serial numbers if available. Please include a description of how the equipment/part, etc., are used in your program.
- After processing, copies will be distributed in the following manner:
- Official copy to the donor with the acknowledgment letter
- Property control
- Department reporting the gift
- This form is NOT to be used for cash gifts. Cash and checks should be sent or delivered to the Advancement Office for deposit.
If you have any questions, please contact the Advancement Office at (231) 591-3849.