Charitable IRA Rollover
A tax-wise gift from your individual retirement account
If you are at least 72, and do not depend on your Required Minimum Distribution (RMD) from an IRA for your current needs, you can meet part or all of the RMD obligation by donating it directly to Antioch College as a Qualified Charitable Distribution (QCD). Doing so could put you in a lower tax bracket and possibly confer other benefits. (For details, see the QCD discussion in Publication 590-B.)
Each year a number of Antioch College supporters choose to do this, helping to attract and support students who want to win victories for humanity.
Here are a few things to consider:
- If you are 72 or older and receive IRA retirement income through Required Minimum Distributions, you can divert up to $100,000 per year to non-profit organizations such as Antioch College as QCDs.
- Qualified Charitable Distributions allow taxpayers to exclude the amount of the QCD from their taxable income.
- Depending on your circumstances, this may save you thousands of dollars on your federal income tax. Reducing your Adjusted Gross Income by using QCDs might also reduce your future Medicare B premiums (which are based on Adjusted Gross Income).
- You need to make arrangements for your QCD with the firm handling your IRA before December 31st.
How to Make Your Gift:
- Instruct your IRA administrator to mail a check directly to Antioch (payable to Antioch College) to: Antioch College, Office of Advancement, 1 Morgan Place, Yellow Springs, OH 45387. The College’s Tax-Exempt ID number is 26-1672457.
- Please make sure that your administrator encloses a letter along with your check stating: your name; the purpose of your gift (e.g. Student Success Fund); and notes that it is a qualified charitable distribution from your IRA. This information can also be stated in the memo line of your check.
Want to learn more?
Please consult with your financial advisor to see if you qualify (not all types of IRAs do) or contact the Advancement office at 937-767-2341 if you’re interested in learning more.
Please note: Antioch College does not provide legal or tax advice. Please consult your own legal and tax adviser in connection with gift and planning matters.