Qualified Charitable Distributions & Donor-Advised Funds
Did you know that the Graduate Theological Union is a charity eligible to receive Qualified Charitable Distributions (QCD) directly from your individual retirement account (IRA)? A Qualified Charitable Distribution is a direct, tax-free transfer of funds from your IRA to an eligible charity, such as the Graduate Theological Union (GTU). Any individual 70½ or older is eligible to make a QCD.
QCDs can be counted toward satisfying your Required Minimum Distribution (RMD) for the year. If you are 73 years or older, you must take RMDs from your traditional IRA. There are stiff penalties for failing to take your RMD, and RMDs must be withdrawn from your IRA before December 31 of each year. The GTU can accept Required Minimum Distributions directly from your IRA custodian.
Unlike regular withdrawals from an IRA, a QCD excludes the amount donated from taxable income. To qualify, certain requirements must be met. Please consult a qualified financial advisor or tax attorney with questions regarding QCD and RMD rules and regulations.
Did you also know that GTU is eligible to receive donations directly from your Donor-Advised-Fund? A donor-advised fund (DAF) is like a charitable investment account that a donor opens for the sole purpose of supporting charitable organizations. To make a DAF gift, simply provide GTU’s Federal Tax Identification number (94-1581707) to your DAF custodian and request a charitable contribution be made to GTU.
For additional information, questions, or assistance regarding QCDs, RMDs and DAFs for the GTU, please contact Christopher Cox, Director of Fund Development and Alum Relations by email at firstname.lastname@example.org, or by phone at (510) 649-2531.
Distributions can be directed to:
Graduate Theological Union
Office for Institutional Advancement
2400 Ridge Road
Berkeley, CA 94709
The GTU’s Federal Tax Identification number is 94-1581707. The Graduate Theological Union is a 501(c)(3) nonprofit organization. The GTU’s IRS tax-exempt letter is available upon request.