Here is a tax-smart way your giving can make an impact. The IRA charitable rollover is a great way to make a tax-free gift to Williston Northampton using your IRA. This gift can also satisfy your required minimum distribution (RMD).
1. Do I Qualify?
- You must be 70 ½ years old or older at the time of the gift
- Gifts must go directly from your IRA to Williston Northampton School
- 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 given to Williston Northampton School
- You may direct your gift to an area or program 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 Williston Northampton School. (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.)
For more information on this gift or any other of our gift planning options, please contact:
Eric Yates
Chief Advancement Officer
Phone: 413-529-3300
Email: eyates@williston.com