Qualified Charitable Distribution

Smart Giving from Your IRA

Save Taxes and Help Make a Difference for the Future of North Carolina Wesleyan University.

A Special Opportunity for Those 70½ Years Old and Older

You can give any amount (up to a maximum of $100,000) per year from your IRA directly to a qualified charity such as North Carolina Wesleyan University without having to pay income taxes on the money. Gifts of any value $100,000 or less are eligible for this benefit and you can feel good knowing that you are making a difference at North Carolina Wesleyan University. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short.

woman looking over bills and retirement paperwork

Why Consider This Gift?

  • Your gift will be put to use today, allowing you to see the difference your donation is making.
  • Beginning in the year you turn 73, you can use your gift to satisfy all or part of your required minimum distribution (RMD).
  • You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.

What NEXT?

  1. Contact your retirement provider.
  2. Contact the Office of Planned Giving at 252-985-5410 or TRobinson@ncwu.edu to discuss using your IRA to support North Carolina Wesleyan University.
  3. Seek the advice of your financial or legal advisor.
  4. Please use our legal name and federal tax ID when including North Carolina Wesleyan in your plans.

Legal Name: North Carolina Wesleyan University

Legal Address: 3400 N. Wesleyan Blvd. Rocky Mount, North Carolina 27804

Federal Tax ID Number: 56-0686603

Tip: It is critical to let us know of your gift because many popular retirement plan administrators assume no obligation to notify a charity of your designation. The administrator also will not monitor whether your gift designations are followed. We would love to talk to you about your intentions to ensure that they are followed. We would also like to thank you for your generosity.

To expedite the gift, please complete a letter to your IRA Administrator. Click the link for a sample letter to assist you: Sample Request from Plan Owner to IRA

Gifts from a Will or Trust

Designating NC Wesleyan as a beneficiary in your will or trust is a simple way to commit to our cause and it does not affect your cash flow during your lifetime. In addition, it’s easy to revoke this type of gift if your situation or goals change.

How do I update my Will designating NCWU as a beneficiary?

To request a FREE North Carolina Wesleyan Planning Guide or receive more information about giving a life income gift to NCWU, contact our Office of Advancement by calling 252.985.5266 or email donorrelations@ncwu.edu.

This information is not intended as tax, legal or financial advice. Gift results may vary. Consult your personal financial advisor for information specific to your situation.