If you are 70 1/2 or older, an IRA Charitable Rollover may be the perfect means for you to support the university!
What is an IRA Charitable Rollover?
An IRA Charitable Rollover allows you to give up to $100,000 each year to a qualifying charity (such as Marywood) without having to pay income taxes on the money.
What are the benefits of an IRA Charitable Rollover
- Satisfy your required minimum distribution (RMD) for the year
- Reduce your taxable income (even if you do not itemize deductions)
- Make a gift not subject to the 50% deduction limits on charitable gifts
- Allow your gift to be put to use today by Marywood
- Make a gift without having paying income taxes on the money
How does it work?
Simply contact your IRA plan administrator to make a gift from your IRA to Marywood. Your IRA funds will be directly transferred to Marywood via check or wire transfer.