Ways to Give - The Mitchell Institute | The Mitchell Institute

Every year, we award a Mitchell Scholarship to at least one graduating senior from every public high school in Maine who demonstrates academic excellence, community engagement, and financial need. Each Mitchell Scholar is provided with support that begins with a $10,000 scholarship and later includes personal and professional development programming, opportunities for additional funding for emergency expenses as well as internships and study-abroad experiences, and access to an alumni network that offers a lifetime of meaningful relationships and career advising. We believe every Maine student deserves an opportunity to succeed, and that success impacts not only the Scholar, but all Maine communities. There are several ways to give to the Mitchell Institute:

Donate online through our secure online payment form.
Make your gift by telephone by calling the Mitchell Institute at (207) 773-7700.
Print out our online donation form and send it to our address (below). This form can also be used to make a pledge over time.
Donate by cash, check or money order. Please make checks payable to the Mitchell Institute and send them to: Mitchell Institute, 75 Washington Avenue, Suite 2E, Portland, ME 04101

If you own appreciated securities, consider donating that stock directly to the Mitchell Institute. You will receive a charitable deduction for the average value of the stock on the day it is transferred to the Mitchell Institute, and you will avoid paying any capital gains tax.

Please notify the Mitchell Institute when you donate stock so that we may appropriately credit your gift. Please contact Jeff Candura, Development Director, at jcandura@mitchellinstitute.org or (207) 358-7733.

If you are making an electronic transfer of the stock to the Mitchell Institute, our broker information is as follows:

Recipient Brokerage: KeyBank NA
DTC #: 2205
Account number: 1764440 Mitchell Institute
Reason Code: 40

If you are 72 or older, you are required to withdraw funds from your retirement accounts each year for what is called the Required Minimum Distribution. These withdrawals trigger income tax. But what if you do not need those funds?

If you would rather not pay taxes on these required withdrawals, and you would like to make a difference in the community, there is a solution: You can direct the custodian of your IRA account to contribute any amount up to $100,000 to the Mitchell Institute as a “Qualified Charitable Contribution.” The funds will go immediately to the vital work of the Mitchell Institute, and you will not have to declare those funds as taxable income.

If you are reviewing your estate plans, consider leaving all or part of your retirement assets to the Mitchell Institute and other charitable organizations. If you hold traditional qualified IRAs, 401(k)s, or other retirement assets where the income tax was deferred, your heirs will be responsible for paying income tax after they inherit those funds. You would do well to discuss with your advisors how to leave your heirs different assets that are not subject to income taxation, while designating the Mitchell Institute as the beneficiary for a percentage of your retirement funds.

As a charitable organization, The Mitchell Institute would not have to pay taxes on tax-deferred retirement funds. All of your assets would go to work for the people and causes you care about the most.

For more information, please contact Jeff Candura, Development Director, at jcandura@mitchellinstitute.org, or (207) 358-7733.

By including the Mitchell Institute in your will or trust, you are ensuring that aspiring students in Maine will be helped for decades to come.

Many supporters who have named the Institute in their wills or trusts have chosen to let the Institute know of their intentions. By doing so, they have joined the Mary Mitchell Legacy Society, which was established to honor donors who have included the Institute in their estate plans.

Naming the Mitchell Institute as a Beneficiary of Your Will or Trust

A common and simple way of supporting the Mitchell Institute is by making a provision in your will or trust.

Your will or trust designates your beneficiaries and spells out your final wishes. The beneficiaries typically include your heirs, of course, but many people include provisions for charitable organizations as well. It is our hope that you will consider including the Mitchell Institute in your plans.

The following suggested language are examples that can be adapted by you and your attorney to meet your specific intentions:

Specific Bequest
A specific bequest names a particular dollar amount to be left to the Mitchell Institute.

“I give and bequeath to the Mitchell Institute, a Maine non-profit corporation, Tax ID number 01-0523390, with offices at 75 Washington Avenue, Suite 2E, Portland, Maine 04101, the sum of <$ Amount you wish to donate> to be used for the general purposes of the organization (or to be used for a specific purpose such as programs or scholarships).”

Residuary Bequest
A residuary bequest first leaves specific amounts to family members, friends, or other charities, and then designates that all or part of what remains should go to the Mitchell Institute.

“I give and bequeath to the Mitchell Institute, a Maine non-profit corporation, Tax ID number 01-0523390, with offices at 75 Washington Avenue, Suite 2E, Portland, Maine 04101, all (or stated percentage of) the rest, residue, and remainder of my estate to be used for the general purposes of the organization (or to be used for a specific purpose such as programs or scholarships).”

Contingent Bequest
A contingent bequest names the Mitchell Institute to receive part or all of your estate in the event your designated beneficiaries predecease you.

“If any beneficiary named in this will is not living at my decease, then I give and bequeath to the Mitchell Institute, a Maine non-profit corporation, Tax ID number 01-0523390, with offices at 75 Washington Avenue, Suite 2E, Portland, Maine 04101, any bequest which said beneficiary would have received if he or she had survived me.”

For more information, please contact Jeff Candura, Development Director, at jcandura@mitchellinstitute.org or (207) 358-7733.

The most common and simplest way to help the Mitchell Institute through a life insurance policy is to name the Mitchell Institute the beneficiary of a life insurance policy you and your family no longer need. There are additional ways to support the organization through life insurance, depending on the nature of the policy.

For more information, please contact Jeff Candura, Development Director, at jcandura@mitchellinstitute.org or (207) 358-7733.

Learn about Our Special Giving Programs

The Mitchell Institute has tax-exempt status under Section 501 (c) (3) of the Internal Revenue Code. Our federal tax ID # is 01-0523390. All donations are deductible for federal and state income tax purposes to the full extent provided by law. The Mitchell Institute will not sell or share its donors’ personal information with any other entity.

If you have any questions about any of the above ways to give, please contact Jeff Candura, Development Director, at jcandura@mitchellinstitute.org or (207) 358-7733.