Giving through an IRA charitable rollover is an easy, popular way to use your retirement assets to support Texas A&M University today.

If you are 70.5 or older, this method can provide you with tax benefits while supporting your Aggieland passions. 

What is an IRA charitable rollover? 

An IRA charitable rollover, also known as an IRA qualified charitable distribution (QCD), is a special provision allowing anyone over the of age 70.5 to transfer assets from their IRA directly to a public charity like the Texas A&M Foundation. Many donors use this option to support Texas A&M with gifts ranging from $100 to $105,000. 

What benefits do I receive from this method? 

Everyone 73 or older must take a required minimum distribution from their IRA each year. Giving through an IRA charitable rollover can help you satisfy this requirement while avoiding taxes on the amount transferred. Because the funds are received right away, you can also see your immediate impact on Texas A&M! Beginning in 2023, donors had the option to use their IRA QCD to fund a one-time life-income gift that pays them. Learn more here

“There are multiple points in my life where I’ve benefited from being an Aggie, and I needed to give back. The IRA rollover allows me to support students and programs in the College of Science and College of Geosciences immediately.”
– Hal Schade ’67

How do I make an IRA charitable rollover gift? 

The process is simple: You contact your IRA administrator to make a gift of up to $105,000 each year directly from your IRA to the Foundation. To avoid having the amount taxed as income, you should not withdraw the funds yourself prior to making the gift. You can also contact the Foundation to designate your gift toward a specific area of the university. 

What if I’m already set up to receive my minimum distribution? 

If you are set up to automatically receive your distribution each year, you may want to turn off the payment and instead request two distributions: the charitable rollover and any remaining minimum distribution amount. For example, if you will automatically receive a $25,000 distribution, you could stop the payment and request two: a $10,000 distribution directly to the Foundation, and a $15,000 regular distribution. Together, these will have satisfied your required minimum distribution for the year. 

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Do you have more questions about giving through an IRA charitable rollover? Contact us below!