IRA Charitable Rollover

IRA Charitable Rollover Gifts

The IRA Charitable Rollover provides you with an excellent opportunity to make a gift during your lifetime from an asset that would be subject to multiple levels of taxation if it remained in your taxable estate. Under 2015 federal legislation, you can use your Individual Retirement Account (IRA) to make a gift to a charitable institution, including Wellesley College.

Individuals age 70 ½ and older can instruct their IRA administrators to make a distribution directly to Wellesley and exclude the amount of the gift from their gross income for federal tax purposes.

By making an IRA charitable rollover, you can:

  • Satisfy the required minimum distribution.
  • Avoid federal and, in many cases, state income taxes.
  • Support the important work of Wellesley with a tax-free gift.

Maximize your 2020 charitable gift—and create an immediate and tangible impact at Wellesley. To be eligible:

  • You must be 70 ½ years of age or older at time of distribution.
  • Total charitable gifts cannot exceed $100,000 per taxpayer each year.
  • Transfers from traditional and Roth IRAs must be made directly from the account administrator to Wellesley College. Funds that are withdrawn by you and then contributed do not qualify. Other qualified retirement plans such as 401(k)s and 403(b)s are also not eligible. 

To make a gift:

  • Instruct your IRA administrator to mail a check, payable to Wellesley College, directly to Development Operations, Wellesley College, 106 Central Street, Wellesley, MA 02481. The College’s Federal Tax Identification Number is 04-2103637. Please make sure that your administrator includes the following information in the memo line of the check, or in an accompanying letter: your name, the designation of your gift (e.g. The Wellesley Fund), and a notation that this constitutes a qualified charitable distribution from your IRA.
  • To help ensure gifts are properly recognized and recorded, please be sure to alert the Office of Gift Planning that your IRA gift is on the way.

Contact: Office of Gift Planning | | 800.358.3543