IRA Charitable Rollover
Estate and Planned Giving IRA Charitable Rollover/Qualified Charitable Distribution
Make a difference today and save on taxes. It’s possible when you support Benedictine College Preparatory and/or Saint Gertrude High School through your IRA.
THIS IS A SPECIAL OPPORTUNITY FOR THOSE 70½ YEARS OLD AND OLDER.
You can give any amount (up to a maximum of $100,000) per year from your IRA directly to a qualified charity such as Benedictine College Preparatory and/or Saint Gertrude High School without having to pay income taxes on the money. Gifts of any value $100,000 or less are eligible for this benefit and you can feel good knowing that you are making a difference at Benedictine College Preparatory and/or Saint Gertrude High School. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short.
Because of the unique incorporation status of the Benedictine Schools Educational Foundation, a QCD must be gifted directly to Benedictine College Preparatory or Saint Gertrude High School. QCD's will be used as unrestricted funds to support the operations of the schools. The Foundation may not accept a QCD as a pledge payment or to establish an endowed fund. Please contact Kristina Pudner for additional information.
Because of the unique incorporation status of the Benedictine Schools Educational Foundation, a QCD must be gifted directly to Benedictine College Preparatory or Saint Gertrude High School. QCD's will be used as unrestricted funds to support the operations of the schools. The Foundation may not accept a QCD as a pledge payment or to establish an endowed fund. Please contact Kristina Pudner for additional information.
Why consider this gift?
- Your gift will be put to use today, allowing you to see the difference your donation is making.
- Beginning in the year you turn 72, you can use your gift to satisfy all or part of your required minimum distribution (RMD).
- You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
- Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.
Next Steps:
Contact Director of Scholarship GivingKristina Pudner at 804.708.9581 or kpudner@benedictineschools.org.
Seek the advice of your financial or legal advisor.
Legal Tax Information
If you include Benedictine College Preparatory and/or Saint Gertrude High School in your plans, please use the legal name (Benedictine Schools Educational Foundation) and federal tax ID number (45-3960058). Address is: 12829 River Road, Richmond, VA 23238
12829 River Road
Richmond, VA 23238
BCP Phone: (804) 708-9500
SGHS Phone: (804) 358-9114
Fax: (804) 784-5410
TAX ID: 27-0339456
Richmond, VA 23238
BCP Phone: (804) 708-9500
SGHS Phone: (804) 358-9114
Fax: (804) 784-5410
TAX ID: 27-0339456
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