Your IRA can provide a tax-smart way to make an impact with Caltech now. The Qualified Charitable Distribution or QCD (sometimes called an “IRA Charitable Rollover”) is a great way to make a tax-free gift now to Caltech and satisfy your Required Minimum Distribution (RMD), too.
How Do I Qualify?
The Qualified Charitable Distribution (QCD) offers multiple benefits for making gifts from your IRA.
- You must be 70½ years or older at the time of the gift.
- Gifts must come directly from your traditional IRA account to Caltech. (401(k), 403(b), SEP IRA accounts, and other retirement accounts do not qualify.)
- Gifts cannot exceed $100,000 per donor per year.
Benefits of Qualified Charitable Distribution
- If you don’t itemize your income tax deductions, a QCD offers all of the benefits of an itemized income tax charitable deduction.
- If you are age 72 or older and must take a Required Minimum Distribution (RMD), a QCD gift can satisfy your RMD without increasing your income taxes.
- You may direct your gift to a program or area of your choice at Caltech.
- You will create an immediate impact on Caltech.
How Can I Make an IRA Charitable Rollover?
Contact your IRA administrator to request a Qualified Charitable Distribution from your IRA to Caltech.
Please request they issue a check payable to Caltech, with the reference “Qualified Charitable Distribution” in the memo portion of the check and send to the address below:
Advancement and Alumni Relations
P.O. Box 102963
Pasadena, CA 91189-2963
It is important to request your QCD from your IRA Administrator by December 15 so Caltech can receive and process the check no later than December 31 to ensure you receive the full tax benefits of this gift.
Note: Legal Name (California Institute of Technology) and Federal Tax Identification Number (95-1643307).