Articles like this: The Tax Advantages of Qualified Charitable Distributions From IRAs can be very informative for people who are approaching the age (70.5) where they must take mandatory distributions from an IRA account.
Recently Brad Mylett, MUM Vice President for Development and Alumni Relations sent out a letter describing this opportunity:
“Your support, along with that of so many others, has been the foundation of the growth of Maharishi University of Management all these years. While the MUM Annual Fund is the core fundraising mission of the University, we are also now engaged in the vital business of building our endowment to secure the long-term future of the University.
As you have most likely seen from our recent mailings, there are many ways that universities build their endowments. Legacy giving, in all its different forms, is a key component of any school’s endowment fund.
I want to bring to your attention one effortless, effective, and timely way in which you could provide additional support for MUM. Usually, beginning at age 70½, anyone who holds a Traditional IRA or 401K and no longer works must take an annual required minimum distribution (RMD) from their account. This distribution is taxable income.
One option is to transfer this distribution — or a portion of it — directly from your retirement account to MUM and avoid paying taxes on the increased income. Doing this may help to lower your income, social security, and capital gains taxes. In many cases, it can be a win-win situation. We have enclosed a small brochure that explains in more detail how this can work.
If you have a plan with a current required minimum distribution and would like to explore this option further, please fill out the back of this brochure and return it to us, give me a call directly at (641) 919-6063, or contact our office at (641) 472-1180.
We hope that you will consider this effortless approach to supporting MUM — the home of Consciousness-Based Education — with an end-of-the-year philanthropic gift.
NOTE: If you can’t print out and send in the form on the brochure or prefer a web form, use this:
IRA Opportunity Form
Development Office ♦ Maharishi International University ♦ 1000 North 4th Street ♦ Fairfield, IA 52557
email@example.com ♦ 641-472-1180 Monday-Friday, 10:15-4:30 CST
Maharishi International University, a nonprofit, tax-exempt 501(c)(3) corporation since 1988, is designated to receive charitable gifts.