LYCOMING COLLEGE 2024 FALL MAGAZINE

QUALIFIED CHARITABLE DISTRIBUTIONS

Do you have a traditional Individual Retirement Account (IRA)? If you answered yes to these questions, then there’s a smarter way to give to Lycoming College. You can make a contribution, known as a Qualified Charitable Distribution (QCD), directly from your IRA that is 100 percent tax free, regardless of whether or not you itemize deductions on your tax return. QCD A smart way to give Were you born in 1954 or earlier?

If you are 70½ years or older , it’s as easy as instructing your plan administrator to make a direct transfer to Lycoming College.

WHAT ARE THE BENEFITS OF MAKING A QCD? Your gift is transferred directly to Lycoming; since you do not receive the funds, they are not included in your gross income. The amount you transfer will count toward your required minimum distribution if you have attained the age when mandatory distributions begin. That age is currently 73 and will rise to 75 in 2033. You support the programs at Lycoming that are most important to you.

If you would like to learn more about QCDs, contact Robb Dietrich, assistant vice president for major and planned gifts, at 570-321-4401 or dietrich@lycoming.edu.

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