The Secure Act 2.0 and Charitable Giving

March 2023

Mr. Hiltwein

"Don't judge each day by the harvest you reap but by the seeds that you plant." - Robert Louis Stevenson

The Secure Act 2.0, which was passed into law this year, includes many wonderful opportunities to reduce your tax burden and save for retirement while also enabling you to make a significant impact on the students, faculty and programs at Kean University.

A Qualified Charitable Distribution (QCD) is an excellent way to show your support for the Kean University Foundation while receiving tax benefits in return. Donors may elect to make a QCD of up to $100,000 directly to the Foundation through a Charitable IRA Rollover.

The age at which required minimum distributions (RMDs) are required has changed from 72 to 73, however, you can still make a QCD beginning at age 70½. As you plan your RMDs this year, consider using your IRA account to make the most of your charitable giving. You will receive a tax benefit even if you take the standard deduction!

To Qualify:

You must be 70½ or older at the time of gift.
Distributions must be made directly from a traditional IRA account by your IRA administrator to the Kean University Foundation.
Gifts must be outright, meaning they go directly to the Kean University Foundation. Distributions to donor-advised funds do not qualify.
Gifts from 401k, 403b, SEP and other plans do not qualify. Ask your financial advisor if it would make sense for you to create a traditional IRA account so you can benefit from an IRA Qualified Charitable Distribution.

Tax Benefits:

IRA QCDs are excluded as gross income for federal income tax purposes on IRS Form 1040.
Your gift counts toward your RMD for the year in which you made the donation.
You could avoid a higher tax bracket that might otherwise result from adding an RMD to your income.

For more information, please contact Lori Funicello, CFRE, Director of Planned Giving, via phone at (908) 481-5336 or email at lfunicel@keanfoundation.org.

Social Media Community Guidelines

The Kean University Foundation manages several social media channels. Through these channels, we aim to facilitate supportive conversations and share informative, engaging content. But please note—if you post to one of our social media channels, send us messages, reply to our tweets or comment on any of our posts, you are agreeing to follow and adhere to these Social Media Community Guidelines.

Additionally, please remember that the comments and responses you read on our channels from other community members come from them, not us. The content of other peoples’ comments, opinions and statements, even if they’re posted on our channels, do not necessarily reflect our views—they are the responsibility of the members of the public who choose to post them.

In order to help us keep our Kean University Foundation and Kean Alumni social media channels as supportive places to discuss shared topics of interest, please abide by the following Social Media Community Guidelines:

Be Respectful
1. Respect is a core part of being a Kean Cougar. Although we welcome your comments and feedback, you must take the responsibility to share both in a way that is respectful to Kean University, our team members and our overall community.
2. We will not tolerate comments, replies, messages or posts that are inappropriate, harassing in nature, or otherwise abusive.
3. We do not welcome comments, replies, messages or posts that are promoting or soliciting a third-party site. This includes third-party products and initiatives.
4. Social media is not the proper forum to send us feedback about our services. Please email kuf@keanfoundation.org for help with those topics.
5. We reserve the right to remove comments/replies/message that do not adhere to our policies, or any content that we believe does not comply.
6. We reserve the right to block or ban anyone who violates our policies.

Comment Moderation and Responses
1. We monitor our social media channels on weekdays, during normal business hours. We try to respond as soon as we are able.
2. Although we are moderating our social media channels to ensure that those commenting are complying with our guidelines, we are not responsible for anything posted by members of the public.

Your Posts May Become Our Future Content
1. When tagging us on social media platforms, please keep in mind that you are consenting to us potentially resharing your content in the future as User Generated Content. By posting on our channels and tagging us in your content, you agree that your posts may be freely used by us on our social media channels, and possibly on our website or in our newsletter.
  1. Knowing this, please do not post any information that you prefer to keep confidential.
  2. Do not share any information from which you expect to receive compensation.
2. When you post on or interact with any of our social media channels, remember that your name, likeness and social media handle will be visible to us and associated with your post/reply/message. If we reshare or use your post/reply/message elsewhere, we may display your name, likeness and social media handle when we do so.

May 2021

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