LEGACY W I N T E R
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LEGACY SPOTLIGHT
M I LL I KI N
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Chris Enge, Class of 1989
According to Daniel Cobb of Caring.com, only 60% of Americans have an estate plan in place by the age of 55. Being a lawyer, Chris Enge, Class of 1989, knows the importance of making such a plan. A lack of proper estate planning can lead to family disputes, assets getting into the wrong hands, long court litigation and excess money paid in estate taxes.
Chris Enge and his wife, Heidi, named Millikin University as a beneficiary in their estate because of the opportunities the University gave Chris as a student. Receiving scholarships helped Chris attend a private college and experience an education that felt comfortable to him as a student coming from the small town of Pana, Illinois.
According to Chris, Millikin staff members not only helped him get his estate plan right but helped him give back to the University that gave him so much.
Chris chose to attend Millikin University not only because of the small class sizes but because of the University’s overall reputation. He also liked that Millikin is close to, and has a positive reputation with, community businesses: “Millikin is valuable because of what employers think of the institution, the alumni network, what kind of job you can get and the potential to further your education.”
“Knowing and appreciating how much [financial aid] money is donated, especially at a private institution, you feel a bit of an obligation to make it possible for someone else,” Chris said.
Chris & Heidi
1989 Millikin Graduation
Millikin Finance Association
60%
Only of Americans have an estate plan in place by the age of 55
As a student, Chris was a founding member and treasurer of the Millikin Finance Association, congressional staff intern to then-Representative Dick Durbin and reporter for the Decaturian. He received the Millikin National Bank Award for outstanding business juniors in 1989, was inducted into the Phi Kappa Phi Honor Society as a junior and senior, and received the T.W. Samuels Award for outstanding student in pre-law. In addition to these accolades, Chris graduated Millikin University summa cum laude. After graduation, Chris attended Stanford Law School where he earned his Juris Doctor degree. Chris also has an MBA from the University of Michigan-Flint. Currently, Chris is an associate professor of management and business law at Mott Community College in Flint, Michigan. At Mott, Chris says he taps into the teaching style
that he experienced here at Millikin: making personal connections and inspiring students to go for things that they think aren’t obtainable. Dr. Robert McIntire, retired political science professor at Millikin, is the one who didn’t allow Chris’ doubts to get in the way of his potential, encouraging him to apply for law school at Stanford. And with an estate plan in place that benefits our institution in perpetuity, Chris will be ensuring that future students who attend Millikin will be able to reach their own potential too. No matter your age, it’s never too early to have your estate plan in place. For assistance or questions pertaining to estate planning and Millikin, please contact Dan Baker, senior director of major gifts, at drbaker@millikin.edu or 217.424.3757.
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INVESTORS SOCIETY
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2021 Luncheon & Induction Ceremony The Millikin University Investors Society was established to recognize alumni and friends who have made commitments to Millikin’s future through their wills and other planned gifts, including trusts, charitable annuities or retirement plan designations. In 2021, Millikin welcomed five new members into the Investors Society:
Gina Bianchi Class of 1993
Lori Kerans Class of 1985
Barbara Link Class of 1959
Chris & Deborah Olsen Class of 1974
For more information on the Investors Society or any of Millikin’s other planned giving options, including those gifts that can earn you income, contact Senior Director of Major Gifts Dan Baker at 217.424.3757 or email investorssociety@millikin.edu
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GIVING VIA APPRECIATED SECURITIES A Tax-Savvy & Generous Approach Securities and mutual funds are increasingly popular assets used to make gifts to Millikin University. This is especially true lately, given the stock market’s recent all-time highs. Making a gift of securities or mutual funds (that have increased in value and been held for more than one year) offers you the chance to support your alma mater while realizing important benefits for yourself. When you donate appreciated securities or mutual funds in support of Millikin, you can reduce or even eliminate federal capital gains on the transfer.
You may also be entitled to a federal income tax charitable deduction based on the fair market value of the securities at the time of the transfer. When securities are given in the form of an outright gift, you receive the same income tax savings that you would if you wrote a check, but with the added benefit of eliminating capital gains taxes on the transfer, which could be as high as 20%. Many donors choose to give via appreciated securities because it allows them to give charitably beyond their typical cash or check contributions.
Board of Trustees Approves Endowment Level Increases During the May 2021 meeting of the Millikin University Board of Trustees, an updated naming gift policy was adopted to guide the recognition of significant benefactors to the University. The new policy increases the minimum gift amount a donor must make in order to create named, endowed scholarships, funds and/or awards.
Income from an endowment that is restricted will be named (as specified by the donor and agreed upon by Millikin University) if the amount of the principal reaches the following minimums: Endowed Scholarships: $20,000 Endowed Funds: $20,000 Endowed Awards: $10,000 The new policy also defines gift levels and parameters for naming faculty positions, programs, facility spaces and rooms, new construction and non-endowed scholarships, funds and awards.
For more information about naming opportunities, please contact the Alumni & Development Office at 217.424.6383.
*The information contained in this publication is not intended as legal or tax advice and cannot be relied upon to avoid statutory penalties. The figures citied in examples are intended to by hypothetical illustrations only and are subject to change. References to estate and income taxes reference federal taxes only. State income and estate taxes may impact your results. Always consult with your financial planner or attorney before implementing any gift.*
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Millikin University humbly recognizes the gifts that our donors have provided through their estates. We are grateful for their investments in the future of our students, campus and community, and for the legacies they leave behind through their commitment to the University and its progress. We wish to honor their lives and memories, and express our heartfelt appreciation for their generosity.
Doris Ryan McElwee Doris Ryan McElwee, Class of 1953, left an estate gift to the Psychology Department that enabled the endowment of the Doris McElwee Psychology Fund.
Lois Adams Lawrence & Carl Lawrence Lois Adams Lawrence, Class of 1942, and Carl Lawrence, Class of 1951, created a trust that established the Carl and Lois Lawrence Music Scholarship and helped to name a large acting studio in the Center for Theatre & Dance.
Virginia Holben Rogers Virginia Holben Rogers, Class of 1932 and emeritus trustee, left an unrestricted estate gift of more than $4.5 million to Millikin. The new state-of-the-art theatre inside the Center for Theatre & Dance was named the Virginia Rogers Theatre in her honor.
ALUMNI & DEVELOPMENT 1184 West Main Street Decatur, Illinois 62522
NON PROFIT ORG. US POSTAGE PAID DECATUR, IL PERMIT NO.127
millikin.edu/planned-giving
Questions? Contact Dan Baker, Senior Director of Major Gifts at the Office of Alumni & Development
217.424.3757
drbaker@millikin.edu
1184 West Main Street, Decatur, Illinois 62522