Kim Ebersole ’89 and David Doudt ’64 have generously supported Manchester University for decades through recurring monthly gifts. This year they decided to do something a little different through an IRA charitable rollover gift.
If you are 70 ½ years or older, an IRA rollover allows you to transfer money directly from your IRA to a qualified charity. That gift will not only satisfy some or all of your required minimum distribution for the year, but can also reduce your taxable income even if you do not itemize deductions.
“We regularly give to Manchester University out of gratitude for what we received while students and continue to receive by living near the university,” say Kim and David. “Attending university programs and interacting with faculty and staff continues to enrich our lives.”
“Recent changes in federal income tax laws have influenced how we are now donating to Manchester. Utilizing the Qualified Charitable Distribution provision offers the tax benefits of charitable contributions without having to itemize our deductions on our federal tax return. It’s a win-win situation for us and for the university.”
To learn more about the IRA rollover benefit, visit plannedgiving.manchester.edu.