Direct IRA Gifts (IRA Charitable Rollover)


If you are 70 ½ or older, you may make a charitable gift to Barnard directly from your (or your spouse’s) IRA (or Roth IRA). This special rule is now a permanent feature of U.S. tax law, allowing so-called “qualified charitable distributions” (QCDs) or “charitable rollovers” of up to $100,000 per year, free from federal taxation.

To make a direct IRA gift, instruct your IRA administrator to make a distribution check payable to BARNARD COLLEGE (not to you) and send it to:

Barnard College
ATTN: Development Office
3009 Broadway
New York, NY 10027

Barnard’s Taxpayer Identification Number (TIN) is 13-1628149.

Let us know your plans! This will help us ensure that your gift is credited properly and that the appropriate acknowledgment is sent for your records.

An IRA distribution (or rollover) to a qualified charity, like Barnard, counts toward your required minimum distribution (RMD) and is not treated as taxable income. There is no income tax deduction available, as the distribution (in most cases) is being made from assets that were never taxed. It is federal-income-tax neutral.

If this is an attractive option for you, please contact your IRA administrator to arrange your gift.

IRA Charitable Rollover might be particularly attractive to you if:

  • You have sufficient income for your needs from other sources, but must still take the required minimum distribution (and pay income tax on the distributed amount).

  • Your required distribution, if paid to you, would put you in a higher tax bracket or cause more of your Social Security income to be taxed.

  • You have already reached your charitable deduction limits based on your adjusted gross income (AGI) (50% of AGI for cash gifts, 30% of AGI for gifts of stock or other appreciated property).

  • You do not itemize your tax deductions.

  • You want to spend down your IRA assets because of the heavy tax burden that results if the assets are inherited by someone other than your spouse.

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