Gifts of Retirement Assets
Making a Qualified Charitable Distribution from your IRA
If you are at least 70 and ½ years of age, you can turn the required minimum distribution (RMD) from your regular IRA into a gift for Garden School. Simply instruct your fiduciary to transfer your distribution directly to Garden School. Checks should be made payable to:
Garden School EIN 11-1631783
Ask your financial institution to mail your check to:
Garden School
33-16 79th Street
Jackson Heights, NY 11372
By making this qualified charitable distribution (QCD) to Garden School, you can avoid income tax on your IRA withdrawal while providing essential support to our students and faculty.
Your QCD amount may be used to satisfy your RMD for the tax year in which your QCD is delivered to Garden, but please note that 401(k) and 403(b) plans are not eligible for this gift. Total QCDs for any individual must not exceed $100,000 in a single calendar year.
Designating Garden School as a Beneficiary of your Retirement Plan
You can designate all or a portion of your retirement plan to Garden School by adding us to your designation of beneficiary form. Ask your fiduciary how to obtain and complete this form. 100% of your gift is tax free, avoiding costly income taxes imposed on your heirs should they be designated beneficiaries. You can designate Garden School as the beneficiary of other assets as well.
The information contained herein is not intended as legal or tax advice. We recommend that you consult with your attorney or financial advisor for questions concerning your individual situation.
