For individuals age 70 1⁄2 or older, the IRA QCD is a tax-wise way to support Harvard. If you are required to make annual withdrawals from your IRA, these otherwise taxable distributions can satisfy your annual Required Minimum Distribution and exclude the funds from your taxable income. The QCD can be particularly beneficial if you do not itemize and take the standard deduction.
Each year, you (and your spouse) can transfer as much as $100,000 to Harvard College* for a purpose that you choose.
What are the benefits?
- Transfer tax-free gifts from your IRA directly to Harvard
- Can be applied toward your annual Required Minimum Distribution
- Beneficial for individuals who do not itemize deductions on their income tax
- Withdrawals not subject to annual charitable deduction limitations
- IRA gifts may be used to satisfy multiyear gift pledges
- Can be used to create an endowed scholarship or other permanent fund—alone or combined with the legacy pledge
To initiate the transfer, contact your IRA administrator.
Questions?
For answers to our most frequently asked questions about the IRA QCD, please click here.
*or the Harvard Kenneth C. Griffin Graduate School of Arts and Sciences, the Harvard John A. Paulson School of Engineering and Applied Sciences, or other programs of the Faculty of Arts and Sciences
Contact Us
Email: ogp@harvard.edu
Phone: 617-496-3205 or
1-800-VERITAS (ask for the Office of Gift Planning)