Support PC with a Tax-Free Gift from Your IRA

Support PC with a Tax-Free Gift from Your IRA

SUPPORT PROVIDENCE COLLEGE WITH A TAX-FREE GIFT FROM YOUR IRA

IRA owners who are at least 70 ½ must take a certain amount every year—the Required Minimum Distribution—from their IRA. This distribution is taxed as ordinary income, but if you choose to direct a portion of it to Providence College, it can be tax-free.  Do Note:  The legislation which makes this opportunity possible will expire on December 31, 2011.

How Tax-Free Gifts from IRAs Work:

  • A qualified distribution (up to $100,000 per person) is made from your IRA directly to Providence College.
  • This gift counts toward your RMD.
  • Although there is no charitable tax deduction, the amount you send directly to us from your IRA is excluded from your income for federal tax purposes, which means you pay no federal income tax on this amount.
  • The entire amount transferred supports Providence College because PC is not required to pay income tax on the IRA distribution.
  • It is a great way to support the PC Fund and the Angel Fund.
  • If you would like to take advantage of this giving option, please contact the fiduciary who manages your IRA. 
If you would like to take advantage of this giving option, please contact the fiduciary who manages your IRA.  Please notify us about your gift so that we can appropriately acknowledge and recognize your gift. It is important that the gift be sent directly from your IRA to Providence College to qualify as a tax-free distribution.

For more information, please contact Carol Giusti-Cahalane in the Office of Major and Planned Gifts, 401.865.1246, or visit: www.support.providence.edu/plannedgiving

Providence College  1 Cunningham Square, Providence, RI 02918-0001, USA    
T 401-865-2414        alumni@providence.edu