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IRA Distributions

Giving Back with Your IRA

You can make annual gifts directly from your individual retirement account (IRA) to support the University of Mount Saint Vincent tax-free through a Qualified Charitable Distribution (QCD).

Who qualifies?

Individuals who are age 70 ½ or older at the time of the distribution.

How much can I distribute?

You may contribute up to $108,000 per year per individual (2025 limit). Your qualified charitable distribution counts toward your required minimum distribution, which now begins at age 73.

Note: Eligible spouses may each transfer this amount from their separate IRAs.

What accounts may I use?

QCDs must come directly from your IRA. Retirement assets in 401(k), 403(b), SEP, or SIMPLE plans do not qualify; however, you may be able to roll those funds into a new or existing IRA in order to make a distribution.

What does this mean for my taxes?

  • Federal | You do not recognize the distribution as income if it goes directly from your IRA to the University of Mount Saint Vincent. Since the distribution is not taxed as income, it does not generate a charitable income tax deduction.
  • State | Each state has its own rules regarding taxation of IRA distributions. Some states may treat the distribution as income with or without an offsetting charitable deduction. Please consult your tax advisor.

Fund a Life Income Gift

Can I use a QCD to fund a charitable gift annuity?

Yes. Under the Legacy IRA Act, individuals have a one-time opportunity to use up to $54,000 of their IRA assets to fund a charitable gift annuity. Contact us to learn more about creating a life-income gift that benefits both you and Mount Saint Vincent.

Is an IRA charitable rollover right for me?

A QCD may be especially attractive if you:

  • Are at least age 70 ½
  • Want to reduce taxable income
  • Expect that IRA assets may be heavily taxed if left to heirs
  • Already give cash gifts equal to 60% of your adjusted gross income and therefore receive no additional benefit from further charitable deductions

How will UMSV count my gift?

You will receive full gift credit for the entire amount of your qualified charitable distribution.

How do I make an IRA charitable rollover gift?

Contact your IRA plan administrator and request a Qualified Charitable Distribution directly to the University of Mount Saint Vincent. Please notify the University so we can ensure your gift is properly acknowledged.

Legal Information:

Name: University of Mount Saint Vincent

Tax ID# 13-1740445

To learn more or to notify us of your IRA charitable distribution, please contact:

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University of Mount Saint Vincent
Office of Advancement
6301 Riverdale Avenue
Riverdale, NY 10471
718.405.3237
advancement@umsv.edu