Gift PlanningRetirement Assets
Advantages of Giving Through Your IRA
- Once you have turned age 73, using this method of giving can satisfy all or part of your required minimum distribution, or RMD.
- If you and your spouse each have your own IRA accounts, you can double your impact, as you can each make an annual gift of $111,000, totaling $222,000.
- Making a QCD gift to the SDSU Alumni & Foundation allows you to avoid taking unneeded income and to make an impact at State.
- You are able to benefit from lower taxes, even if you do not itemize your annual deductions, as the QCD gift is simply a transfer directly from your IRA to the SDSU Alumni & Foundation.
- Keeping your income levels down in retirement can help keep your Medicare and Social Security tax levels lower as well, creating a triple win for you.
Get Started
When making a charitable IRA rollover gift, contact your financial custodian to share that you would like to make a qualified charitable distribution to the SDSU Alumni & Foundation, a 501(c)(3) organization.
Here's the information they will need to complete your gift:
SDSU Alumni & Foundation
815 Medary Avenue
Brookings, SD 57006
TAX ID#: 46-0273801
Other Ways to Give With Retirement Assets
At any age, you can include the SDSU Alumni & Foundation as a beneficiary of your traditional IRA, 401(k), or 403(b) account. Simply contact your financial custodian to include a percentage of your account to go to the SDSU Alumni & Foundation.
Benefits of Gifting Pre-Tax Retirement Assets to Charity
- You avoid potential estate tax issues on your retirement assets.
- Your heirs would avoid unnecessary income taxes on any retirement assets that were funded on a pre-tax basis.
- You could receive potential estate tax savings from an estate tax deduction.
“Give-It-Twice” Testamentary Charitable Remainder Trust
For any heirs receiving pre-tax retirement assets in 2020 or later, those heirs now have a 10-year window to withdraw the account balance. This may cause heirs to pay more in income taxes on an annual basis during that decade of time.
With that change in mind, many Jackrabbit donors have now explored creating a charitable remainder trust through their estate plan, funded by their pre-tax retirement assets.
Benefits
- You control your pre-tax retirement assets throughout your life. You are simply creating an unfunded trust in your estate plan.
- Your heirs would now have up to 20 years’ worth of income, instead of the 10-year rule.
- Because the charitable trust is invested throughout the term of the trust, there is a similar amount available to the SDSU Alumni & Foundation at the end of 20 years.
- You can support your family and SDSU, without having to choose one or the other.
Gees Give Back to What They Care About
For Dan and Rae Jean Gee, giving back to SDSU and their community is a way to honor the people and places they cherish.
Questions?Connect with Us
Ned Gavlick and Sara Schneider from our Office of Gift Planning are here to answer your questions and guide you every step of the way.
Request More Info
What other assets can I give?
You are advised to seek your own legal and tax advice in connection with charitable gift planning matters. The SDSU Alumni & Foundation does not provide legal, financial, nor tax advice. This communication is not intended or written to be used for the purpose of avoiding tax-related penalties.