Not looking for attention for his generosity, Michael Kogutek ’71, hopes to inspire recipients of his scholarship to give back to UW Oshkosh and continue the cycle of giving.
Michael, a native of Lackawanna, New York, seemed an unlikely prospective student, hailing halfway across the country. It was by chance that Michael even learned of the then-named Wisconsin State University Oshkosh. After attending Canisius College in Buffalo, New York for a year, Michael flunked out. On his own for the first time, he remembered a catalog he had kept from WSU Oshkosh, a university he hadn’t seriously considered and only knew about through a friend. Michael made the decision to attend WSU Oshkosh without ever having stepped foot on campus.
Michael started as a sociology major, but switched to psychology after having a course with Dr. Gordon Filmer-Bennett, whose passion for psychology inspired Michael to make a change. At the time, Michael thought, “I want to do what he does with the passion he has, and if I do that, I’ve led a successful life.”
He did just that. After a successful career as a psychologist and part-time professor, Michael decided to give back to UW Oshkosh and its students, establishing the Michael D. Kogutek Psychology Scholarship. Michael says he is humbled and grateful to be able to have a scholarship within the Department of Psychology, because the department’s three other scholarships were established by former faculty members who taught him during his time on campus.
Even though Michael didn’t grow up in the area, he considers UW Oshkosh home. “It has a special place in my heart,” Michael says. For him, it was a wonderful experience being able to return to campus in 1979, when he was honored with the Outstanding Young Alumni Award, and then again in 2015 to meet the first recipient of his scholarship, Emily Erickson. “I’m really blessed and grateful to be able to do this,” Michael says. He hopes that one day, Emily will return the favor and be inspired by the opportunity that she was given to give back to the University and possibly start a scholarship of her own.
Leaving a planned gift to support his scholarship fund is the next stage for Michael. “After my passing, it would mean a lot to me to give my scholarship in perpetuity and give back to the University.”
Contact us at (920) 424-2178 to learn how you can join Michael and other appreciated alumni and friends in supporting UW Oshkosh students.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.
A charitable bequest is one or two sentences in your will or living trust that leave to UW Oshkosh Foundation a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate for its unrestricted use or purpose or designation of your choice.
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, [name], of [city, state, ZIP], give, devise and bequeath to University of Wisconsin Oshkosh Foundation [written amount or percentage of the estate or description of property] for its unrestricted use or purpose or designation of your choice."
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 UW Oshkosh Foundation 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 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 this type of trust 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 UW Oshkosh Foundation as a lump sum.
You fund this 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 UW Oshkosh Foundation 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 a third party where you agree to make a gift to UW Oshkosh Foundation and they, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.