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The Science of Giving: Endowed Scholarship Supports Science Education

Suzanne Stevens

Suzanne Stevens attended and taught at EMU.

Suzanne Stevens (BS62, MS65) spent a long and fulfilling career at Eastern Michigan University. After working for several years as an elementary school teacher at Fletcher Elementary in Ypsilanti, she was offered a full-time position at the University, where she stayed until retiring in 1997.

Suzanne, an emeritus professor in biology, enjoyed teaching students at EMU and getting them out of the classroom and into the field. They often went on field trips across the state to further enhance their biology education. She also thoroughly enjoyed the time she spent teaching many off-campus classes through the Division of Continuing Education.

Suzanne is still impacting students' lives today thanks to the creation of the Suzanne Stevens Endowed Scholarship in Science Education. Her scholarship benefits students pursuing majors or minors in science education or biology who plan to teach in elementary or middle school. In addition, gifts from her estate will set up two scholarships in memory of her mother and father, as well as support areas on campus that are near and dear to her.

"Supporting Eastern Michigan is very important to me," Suzanne says. "As an alumna and former EMU professor, I appreciate being able to see how my gift is changing students' lives."

Contact Susan Rink at 734.487.5634 or susan.rink@emich.edu to learn more about ways you can support future students.

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A charitable bequest is one or two sentences in your will or living trust that leave to Eastern Michigan University a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to Eastern Michigan University, a nonprofit corporation currently located at 112 Welch Hall, 850 W. Cross Street, Ypsilanti, MI 48197, or its successor thereto, ______________* [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to EMU or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a charitable lead trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the gift tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund a charitable remainder unitrust with cash or appreciated assets-and receive an immediate federal income tax charitable deduction. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to EMU as a lump sum.

You fund a charitable remainder annuity trust with cash or appreciated assets-and receive an immediate federal income tax charitable deduction. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to EMU as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and EMU where you agree to make a gift to EMU and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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