Emerson Yearwood, who has spent most of his career as a lawyer in the communications industry, is dedicated to supporting students of color at MIT through his donations and volunteerism. His current focus is on the Black Alumni of MIT Community Advancement Program and Fund (BCAP), which supports student proposals for public service projects that meet the needs of underserved communities of color on campus and beyond. In 2020, Yearwood worked with the MIT Donation Planning Office to create a Charitable Annuity (CGA) to bolster the BCAP fund.
“A win-win situation.” A CGA provides a fixed annual income for one or two people for the duration of their life and is then assigned to an area designated by a donor to MIT. “The income stream, along with the tax deduction, will minimize the direct cost of this donation,” he says. “The BCAP fund will also deliver a healthy giveaway, which should be multiplied by the wise investment of MIT fund managers. Overall, it seems like a win-win situation.
Doors openning. “As you walk down the Infinite Hallway, you feel how much energy MIT has all its own and how you have to rise up to match it,” Yearwood says. Supporting current and future MIT students from underrepresented communities is one of the ways it does this. “Due to my training at MIT, I never felt like I had faced an insurmountable problem,” he says. “I consider it obligatory to ensure that the door remains open to others.”
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Amy Goldman: 617,253,4082;
Or visit give.mit.edu/planned-giving.