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Your IRA, Your Way

You worked hard to save money for retirement. Wouldn’t you like your savings to work hard for you — and for a cause you care about? Click on each section below to learn more about a tax-efficient opportunity to maximize each dollar from your individual retirement account (IRA).

IRA Qualified Charitable Distribution

Beginning at age 70 ½, you can transfer up to $108,000 tax-free each year from your IRA to Mount Holyoke. Your qualified charitable distribution (QCD) gift immediately benefits both the College and you because it counts toward your required minimum distribution and can help reduce your taxable income.

Gifts made through an IRA QCD can be a great option for:

  • Those age 70 ½ or older.
  • Those who want to reduce their taxable income.
  • Those who need to make a required minimum distribution.
  • Those who wish to see their gift impact Mount Holyoke today.

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IRA-Funded Charitable Gift Annuity

After turning 70 ½, you can use up to $54,000 from your IRA to fund a charitable gift annuity at Mount Holyoke. This one-time gift provides fixed payments for life to you, your spouse or both of you. When the annuity term ends, the remaining funds will enhance Mount Holyoke’s vibrant, intellectually adventurous global community.

IRA-funded charitable gift annuities can be a great option for:

  • Those age 70 ½ or older.*
  • Those who would benefit from an income stream of predictable payments, either now or at a future date.
  • Those who want to reduce their taxable income.
  • Those who need to make a required minimum distribution.

*If you are younger than age 70 ½, you may still be eligible to set up a charitable gift annuity or deferred charitable gift annuity with a gift of cash or appreciated assets.

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Retirement Account Remainder Beneficiary

Using a simple form from your plan administrator, you can designate Mount Holyoke to receive all or a portion of the funds that remain in your IRA or other retirement plan accounts after your death. Unlike living heirs, Mount Holyoke does not pay taxes on the distribution from your retirement account, making this a simple and efficient way to include the College in your estate planning.

Retirement account remainder beneficiary gifts can be a great option for:

  • Individuals of any age who have any type of retirement account.
  • Those seeking flexibility with their future giving.
  • Those looking to reduce their taxable estate.

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The Office of Gift Planning appreciates the opportunity to further discuss your giving goals and whether making a gift to Mount Holyoke through your IRA could be right for you. Contact us to schedule a personalized information session.

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