Here is a tax-smart way your giving can make an impact to Episcopal’s innovative approach to curriculum which provides an educational experience unlike any other. The IRA charitable rollover (also called the Qualified Charitable Distribution or QCD) is a great way to make a tax-free gift to Episcopal High School and satisfy your required minimum distribution.
1. Do I qualify?
- You must be 70 ½ years old or older at the time of the gift.
- Gifts must be a direct transfer from your IRA to EHS.
- Gifts must come from an IRA account.
- Gifts cannot exceed $100,000 per person, per year.
2. Benefits of an IRA Charitable Rollover Gift
- Gifts can satisfy your RMD without increasing your income taxes.
- You will not pay taxes on your IRA withdrawal when gifted to Episcopal High School.
- You may direct your gift to a program or area of your choice.
- It is a powerful way to help shape the future lives of students.
3. How can I make a charitable IRA rollover?
- In order to qualify for the benefits of a charitable IRA rollover, the gift must come directly from your IRA administrator to EHS. (If you withdraw money from your IRA and then make a gift of the proceeds, you will not be entitled to the special benefits of a charitable IRA rollover.)
- Donors contemplating such a gift will often send us a letter in advance. We appreciate knowing these gifts are coming because it can be difficult to match the check from the administrator to you. We want to be able to properly thank you, acknowledge your generosity, and ensure it is used as wished.
Please fill in your email and/or phone number if you would like to speak to someone to learn more about this tax-smart giving option.