IRA Qualified Charitable Distribution

Make a Tax-Free Gift from Your IRA

If you're 70 ½ or older, each year, you can instruct your IRA administrator to transfer all or part of your required minimum distribution (up to $111,000) directly to College of the Holy Cross and avoid paying the tax had you taken it as income.

Make a Tax-Free Gift from Your IRA

An IRA Qualified Charitable Distribution allows you to make a gift to College of the Holy Cross directly from your IRA, pay no taxes on the transfer, and count the gift toward your required minimum distribution.

Tax-Free IRA Qualified Charitable Distribution

The IRA Qualified Charitable Distribution allows donors to exclude certain transfers of Individual Retirement Account (IRA) assets that are made directly to public charities from their taxable income.

To qualify

  • You must be age 70 ½ or older at the time of gift.
  • Transfers must be made directly from a traditional IRA account by your IRA administrator to College of the Holy Cross. Funds that are withdrawn by you and then contributed do NOT qualify.
  • The gift must be completed during the applicable tax year.
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How You Benefit

A IRA Qualified Charitable Distribution makes it easier to use IRA assets, during lifetime, to make charitable gifts.

  • Your gifts count toward your Required Minimum Distribution but do not count as income.
  • You can use tax-free IRA Qualified Charitable Distributions to make any kind of outright gift, including:
    • College of the Holy Cross Fund gifts
    • 50th Reunion gifts
    • Pledge payments

Maximum Gift

An individual taxpayer's total IRA Qualified Charitable Distribution gifts cannot exceed $111,000 per tax year.

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Contact

If you need information or if you have any questions or concerns, please contact Julie Karavan MS, CFRE at 508-793-3481, email giftplanning@holycross.edu, or Schedule a Call.

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