Assisting K Students in Perpetuity
In the early 1900s the Alexander Dodds Company of Grand Rapids, Michigan was exporting machinery throughout the world. Beginning in 1959 the Alexander Dodds estate was helping K students travel the globe.
The namesake of the company and estate was born in 1845 in St. Lawrence County, New York. A trained machinist, Alexander eventually made his way to Grand Rapids where he founded the woodworking machine company that continues to operate today. Alexander was frequently featured in the Grand Rapids Herald business and society pages for his involvement as an industrial, civic, religious and philanthropic leader.
Alexander also created an estate plan to achieve two objectives: take care of his family, then forever support his philanthropic causes. When Alexander passed away in 1925, his plan was set in motion. He ensured his family's financial well-being by providing them with annual income from his trust. Ever since his final heir passed in the 1950s, the yearly income from the trust has been divided equally between K and four other non-profit organizations.
Alexander did not attend K. No evidence exists he ever visited the campus. However, there is little doubt he would have been a great supporter of the K-Plan—especially study abroad. In the Grand Rapids Herald he noted it took a "10-year effort to establish a foreign trade." How much easier it could have been with a staff of learned world travelers. Thanks in part to Alexander's gift in perpetuity, today's companies now have that resource available when they hire a K graduate.
If Kalamazoo College's mission and results inspires you, please consider joining Alexander in investing in the future of the College with a planned gift. Contact Matthew Brosco, Esq. 269-337-7288 or email@example.com for more information.
Information contained herein was accurate at the time of posting. 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 any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual 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.