Livonia, Mich. Planned Giving
As an engineer for the Ford Motor Co. for 30 years before his retirement in 2002, Dave Stevens is big on reliability.
So when he started thinking about a planned giving program with Siena Heights University, Stevens was introduced to a life insurance annuity. Under this giving program, Stevens took out a life insurance policy for $350,000, listing Siena Heights as the beneficiary. He writes a check each year to pay for the premium. However, he gives the check to Siena, who then pays the premium for him. This allows Stevens to use his payment as a tax write off.
“It’s really worthwhile because it guarantees the amount of giving,” said Stevens, a Livonia, Mich., resident. “You don’t have to worry about writing a check every time you turn around. I wanted to have a steady program of giving instead of having it be haphazard.”
“Anyone interested in supporting Siena Heights should also look at planned giving,” said SHU Vice President of Advancement Mitchell Blonde. “There are ways to set up a planned gift so that the donor enjoys tax benefits and guaranteed income while also supporting Siena Heights and its mission.”
Stevens is a 1981 graduate of Siena’s Metro Detroit program who continues to be active with the university, serving on its alumni board. He said his Bachelor of Applied Science degree from Siena helped him better understand how business and business politics operate.
“I feel like it’s a very good school and it benefitted me an awful lot,” Stevens said.
“Setting up a planned gift is not difficult,” Blonde said. “And there are a variety of ways to set up a planned gift that will be beneficial to both you and the institution.”
To learn more about a planned giving program, please contact the Advancement Office at 1-800-693-0506. |