IRA Qualified Charitable Distribution

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Notify us of your IRA charitable rollover
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Thank you for considering an IRA charitable rollover gift to us. The website link will take you to your IRA custodian's website, where you may be able to log in and make a gift to Westmont College. Another option is to use the phone number to call your IRA custodian. They will assist you in making an IRA charitable rollover gift. If you would like to notify us of your generous IRA charitable rollover, please complete the Notify us of your IRA charitable rollover section. Please note this is a time sensitive transaction. If the IRA charitable rollover is intended to satisfy your required minimum distribution for the current year, verify with your custodian that this transaction will be completed prior to December 31. If the transaction is not completed prior to December 31, you may be subject to penalties if you have not satisfied your required minimum distribution.

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Notify us of your IRA charitable rollover

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Create Letter

Thank you for considering a IRA gift to us. A sample letter is available to send to your DAF provider. You may save and print the PDF of your letter. If you have email contact information for your DAF provider, you may send a PDF copy of your DAF letter or you may copy and paste the text into an email. You will need to enter the amount of your recommended grant and your DAF account number on the letter before mailing. If you would like to notify us of your generous gift, please complete the Notify us of your DAF Gift section.

If you are 70 ½ or older, a gift from your IRA allows you to give pre-tax assets in the form of a Qualified Charitable Distribution (QCD). The gift of a QCD allows you to satisfy your Required Minimum Distribution (RMD) and to contribute up to a maximum of $111,000 a year to Westmont and other charities.

Benefits of an IRA Qualified Charitable Distribution

• Your gift is excluded from taxable income, which is a nice tax benefit if you do not itemize deductions
• It may prevent you from being pushed into a higher tax bracket and help you avoid the limit on charitable deductions
• It may also reduce the Medicare Part B premiums you pay
• It minimizes the effect on your cash flow; the gift is from your assets, not your checkbook
• It allows you to make a significant gift to support Westmont

How Does the QCD from Your IRA Work?

IRA Charitable Rollover

IRA (Custodian)

Westmont

How to Make a Gift From Your IRA

1. Contact your IRA custodian to instruct them to make a direct gift (a Qualified Charitable Distribution) from your IRA to Westmont.
2. Once you have instructed your IRA custodian, please let our office know to expect your gift as many custodians send a check without other documentation such as your name. Inform Westmont at (805)565-6058 or [email protected].
3. Your IRA custodian will send a check directly to Westmont.
4. For year-end gifts, requests to your IRA custodian should be made by December 1 to guaranty that Westmont receives your gift by December 31.

Qualified Charitable Distributions do not increase your adjusted gross income as a taxable IRA distribution would. Please note that QCDs do not qualify for a charitable deduction. The tax benefit results from the reduced taxable income.

Contact us

If you have questions about an IRA Qualified Charitable Distribution or if would like to designate your gift for a specific purpose, please contact us. We are happy to assist you and answer any questions you might have.

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