Planned Giving

Making the Gift of a Lifetime to Immaculata—one of the most meaningful ways to help provide for the future of Immaculata is by making a planned gift, a gift whose benefits outlast your years. Making a planned gift can be as simple as making Immaculata a beneficiary of your will or estate, or the beneficiary of a current financial account. We also offer other ways to create a permanent gift to Immaculata that provide the donor or their family with income through a variety of annuity options.

 

QUALIFIED CHARITABLE DISTRIBUTIONS
(Also referred to as Charitable IRA Rollover Gifts)

Did you know, if you are 70 ½ years old or older, you can take advantage of a simple way to benefit Immaculata University and receive tax benefits in return? This is a popular gift option commonly called the IRA charitable rollover, but you may also see it referred to as Qualified Charitable Distribution or QCD for short.

The QCD is an excellent way to show your support to Immaculata University and receive tax benefits in return. The QCD allows individuals 70½ and older to make direct distributions up to $100,000 per year to 501(c)(3) charities without having to count the distributions as income for federal income tax purposes. No charitable deduction may be taken, but distributions will qualify for all or part of the IRA owner’s required minimum distributions (RMD).

As you plan your RMD, consider using your IRA account to make the most of your charitable giving. You receive a tax benefit even if you take the standard deduction!

Note: While the new SECURE Act has raised the age to 72 for Required Minimum Distributions, donors may still make QCD gifts starting the year they turn 70 ½.

It’s important to consider your tax situation before deciding whether to make a charitable contribution from your IRA. Be sure to consult with your financial advisor.

TO QUALIFY

  • You must be 70½ or older at the time of gift. (You must wait until 6 months after your 70th birthday to make the transfer).
  • Distributions must be made directly from a traditional IRA account by your IRA administrator to Immaculata University.
  • Gifts from 401k, 403b, SEP and other plans do not qualify. Ask your financial advisor if it would make sense for you to create a traditional IRA account so you can benefit from an RA Qualified Charitable Distribution.

TAX BENEFITS

  • IRA Qualified Charitable Distributions are excluded as gross income for federal income tax purposes on your IRS Form 1040.
  • The gift counts toward your required minimum distribution for the year in which you made the gift.
  • You could avoid a higher tax bracket that might otherwise result from adding an RMD to your income.

FOR MORE INFORMATION CONTACT: Susan W. Arnold, Vice President for Institutional Advancement | 484-323-3198 | sarnold@immaculata.edu

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