IRA Option Enables Donors to Maximize Gifts
Boston College donors can see the impact of their gifts across the Heights, and now they can increase that power through charitable IRA rollovers.
Extended by federal legislation for 2011, charitable IRA rollovers enable benefactors to make tax-free distributions of up to $100,000 annually from their individual retirement accounts to qualified charities such as BC.
This popular giving option allows donors to avoid paying federal and, in many cases, state income taxes, while satisfying IRA requirements for annual minimum withdrawals. Because of these advantages, donors can provide critical support to the University at higher levels than might otherwise be possible.
"The tax benefit makes this type of donation very appealing," says Mary Trepanier Sylvia, MSW'56, who has provided several IRA rollover gifts to Boston College. "This giving option enables me to show my appreciation for the quality education I received while supporting today's students in the Graduate School of Social Work."
Like Trepanier Sylvia, donors can direct their commitments to the BC department, school, or initiative of their choice—or make unrestricted gifts that enable the University to bolster current priorities, such as undergraduate financial aid and student-faculty research.
To qualify, benefactors must be at least 70½ years old at the time of distribution. For both traditional and Roth IRAs, donors should have their account administrator transfer the funds to Boston College directly.
To discuss giving options in confidence, contact Gift Planning Director Sue Warren Ramsey '91 at 617-552-3423 or email@example.com.
Learn more about the benefits of charitable IRA rollovers and access sample gift language at www.bc.edu/irarollover.