GHC Foundation - Tax-Free IRA Gifts

A Tax-Saving Way to Help the Grays Harbor College Foundation

If you are 70½ years old or older, you can take advantage of a simple way to benefit the Grays Harbor College Foundation and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified nonprofit such as ours without having to pay income taxes on the money. 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.

Why Consider This Gift?

  • Your gift will be put to use today, allowing you to see the difference your donation is making.
  • 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.
  • If you are at least 72 years old and have not yet taken your required minimum distribution for the year, your gift can satisfy all or part of that requirement.
  • Since the gift does not count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.

Making a Direct Transfer

Ask your IRA administrator about making a direct transfer to the Grays Harbor College Foundation by having the administrator send a check (or cash wire) from your account to us.

Legal Name: Grays Harbor College Foundation
Address: 1620 Edward P. Smith Dr., Aberdeen, WA 98520
Federal Tax ID Number: 91-6052939

For wire transfers, please have your IRA administrator contact us.

How Can We Help?

If you have questions about making a tax-free gift from your IRA, please do not hesitate to contact us.