A Tax Wise Giving Opportunity

June 2024

“It is not how much we give, but how much love we put into giving.” - Mother Teresa

Don’t miss the chance to make a charitable IRA (individual retirement account) gift this year! If you are age 70½ or older and own a traditional IRA, making a charitable gift directly from your IRA can reduce your taxes while maximizing your philanthropic goals.

Through a charitable IRA rollover, donors can make gifts totaling up to $105,000 to their favorite nonprofit organizations throughout the year. We hope that the Kean University Foundation is at the top of your philanthropic priorities and that you consider supporting Kean through a gift directly from your IRA.

Your IRA Rollover gift to the Kean University Foundation achieves the following:

  • Allows you to give from appreciated assets rather than from your regular checking account, which is typically budgeted for monthly expenses.
  • Helps to satisfy your required minimum distribution (RMD) for the year.
  • Reduces your taxable income, even if you do not itemize deductions.
  • Increases your philanthropic giving since the funds are transferred directly from your IRA and are not subject to the limitation on charitable contributions itemized on your tax return.
  • Supports student scholarships and academic programs at Kean University.

An IRA charitable rollover is a very simple gift to make that can have a significant impact. Please contact Lori Funicello, Director of Planned Giving at the Kean University Foundation, at (908) 481-5336 or lfunicel@keanfoundation.org to learn more, or simply contact your IRA administrator for assistance in making an IRA charitable rollover gift.

Visit our website at keanlegacy.org to sign up for our monthly planned giving e-newsletter!

 

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