A bequest is a gift created now, in your will or living trust, and given at the end of your life. Bequests focus your support on the exciting horizon of MIT education and research and provide MIT with essential resources to explore the world's challenges.
Is this the right gift for you?
MIT welcomes bequests of all sizes, from individuals at all stages of life.
How can a bequest be structured?
Your gift may take the form of a percentage of your estate, a specific amount, or a particular asset.
What can your bequest do for MIT?
Many bequests are unrestricted, enabling MIT to apply your gift to the greatest need when it is received. Other popular choices are undergraduate scholarships and graduate fellowships.
What are the benefits for you and your family?
A bequest to MIT is deductible from your taxable estate and thus can help you to reduce or avoid estate taxes.
Could your bequest count towards the MIT Campaign for a Better World?
Yes. Effective January 1, 2016, MIT will credit bequest intentions to the MIT Campaign for a Better World, assuming the crediting policy guidelines are met. Learn more about the MIT Campaign for a Better World.
What are the guidelines of the MIT Campaign for a Better World bequest crediting policy?
- You must be at least age 65 by the conclusion of the Campaign
- The purpose of the bequest intention must be unrestricted, or for the support of MIT’s core needs
- The amount of the gift credit will equal the present value of the bequest intention
- The bequest intention must be supported by both a signed MIT Bequest Intention Form, and the pertinent page(s) of the applicable documentation referencing the future transfer to MIT
How might you word your bequest?
“I give [all of the residue of my estate OR an amount equal to X percent of the residue of my estate / thereof OR $____________ ] to the Massachusetts Institute of Technology (MIT), a Massachusetts nonprofit corporation, for its general educational and charitable purposes.”
This information is provided for illustrative purposes only and should not be considered legal, tax, or financial advice. We encourage you to discuss these options with your attorney. Please note the MIT EIN is 04-2103594.