IRA Charitable Rollover
Another Great Way to Give: Support Whitman College with Tax-Free IRA Gifts
Using your IRA to make gifts to Whitman College is a tax-wise decision. A beneficial provision in tax regulations permits donations made directly to qualified charities from IRAs while not including the amount of the gift as a taxable distribution from IRAs. As a result, you can maximize the tax-deferred growth of your IRA for the benefit of Whitman College.
Here’s how it works:
- You must be at least 70 ½ years of age at the time the qualified charitable distribution (QCD) is completed.
- The amount transferred directly to Whitman will not be included in your gross income - it is a tax-free distribution.
- A contribution from your IRA directly to a qualified charity will count toward your annual required minimum distribution (RMD).
- The maximum amount that may be donated each year as a QCD is $100,000.
To make your gift, contact the company administering your IRA and request their form to authorize a qualified charitable distribution from your IRA directly to Whitman College. A check, payable to Whitman College, should be mailed to 345 Boyer Avenue, Walla Walla, WA 99362. Whitman College's Employer Identification Number is 91-0567740. Please advise us when you authorize a direct gift from your IRA to Whitman to ensure we properly account for your generous support.
For additional information, please contact Jamie Kennedy in the Office of Gift Planning at (509) 527-5989 or firstname.lastname@example.org, or consult with your professional advisors.