Convert all or part of retirement assets to fulfill charitable goals

The IRA Qualified Charitable Distribution provision is now permanent and can be used at any time in the year. Each year, IRA owners can roll over up to a cumulative $105,000 to their favorite charities and limit or greatly reduce their required (and taxable) minimum distribution (RMD). Since the $105,000 limit is per taxpayer, husbands and wives with separate IRA accounts can each take advantage of this QCD. This tax-savings feature did not diminish under the 2018 Tax Cuts and Jobs Act.

If this alternative giving plan works for you, we would be honored if Schreiner is included among your beneficiaries. Here is the information you will need to provide your IRA manager.

Schreiner University Advancement
2100 Memorial Blvd.
Kerrville, Texas 78028
Tax ID: 74-1193459
Purpose:
Your Names:

Other Options Beyond the Charitable IRA Rollover

Even with recent favorable tax law changes, Americans still must pay income tax on tax-deferred retirement funds (IRAs, 401(k), 403 (b), pension or other deferred plans) when they are used or passed to heirs. However, those who designate qualified 501(c) 3 organizations for all or part of the proceeds preserve their estate assets considerably. You can make a gift of your unused retirement assets to help Schreiner's future service to students.

To leave all or part your retirement assets to Schreiner University, complete a beneficiary designation form provided by your retirement plan custodian. (Often you can find these online on your manager's website.) If you designate Schreiner University as beneficiary, we will benefit from the full value of your donation because charities do not have to pay the deferred income tax. You may want to consider a testamentary charitable trust for these unused assets.

Please call us if we can prepare an illustration showing how to accomplish this. 830-370-6059.