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There’s no better way to honor Bentley than by giving back, together

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Maximize Your Gift Impact, Tax-Free...

“My wife and I began making pre-tax charitable gifts (Qualified Charitable Distributions) from our IRAs after the tax laws changed in 2015. We’ve found this to be an easy way to donate more to our respective universities and other charities. QCDs reduce our taxable income and help us satisfy our annual Required Minimum Distributions. Everyone’s tax situation is different, but using this option has been especially beneficial for us.”  – Garry Keil ’69

Maximize Your Gift Impact,
Tax-Free...With A Qualified Charitable Distribution from
Your IRA

If you are 70½ or older, and plan to make a gift to a charitable organization such as Bentley, you may find that using your IRA to make a “Qualified Charitable Distribution,” or QCD, can be a more attractive option than writing a check or using a credit card.

"When I graduated from the Bentley School of Accounting and Finance on Boylston Street in Boston, I could never have imagined what Bentley would become 65 years later. I’m retired from skiing but still like to play a round of golf twice a week so I like to support student athletes by directing my annual gifts to the Falcon Club. Lately I’ve been using my IRA to make my gifts because it’s a smart, tax-wise way to give. Anyone age 70½ or older can direct a gift of any amount to Bentley from their IRA with two great benefits: it may count toward your required minimum distribution and it is not included in your federal or state taxable income. It’s a winning combination every Blue & Gold Falcon should consider." – Michael A. Longo Jr. ’54

Benefits

  • Pre-tax giving: QCDs from traditional IRAs use “pre-tax” dollars because they are made from tax-deferred savings and are not subject to federal or state income tax.
  • No need to itemize: You can receive this tax benefit regardless of whether you itemize your tax return.
  • Counts toward your RMD: If you must take your Required Minimum Distribution (RMD), a QCD can count toward your RMD.
  • Only from an IRA: A QCD may only be made from a traditional (or Roth) IRA. If your retirement assets are held in other qualified retirement plans, you may be able to convert a portion of your assets into an IRA in order to take advantage of this opportunity.
  • Most types of gifts: QCDs may be used for most types of gifts to Bentley, such as Bentley Fund or endowment gifts. They may also be used to fulfill annual or multi-year pledges. However, they may not be used for life-income gifts.