A Special Opportunity for Those 70½ Years Old and Older

You can give any amount (up to a maximum of $108,000) this year from your IRA directly to a qualified charity such as Duke Divinity School without having to pay income taxes on the money. Gifts of any value $108,000 or less are eligible for this benefit and you can feel good knowing that you are making a difference at the Divinity School. 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.
• If you are required to take minimum distributions, you can use your gift to satisfy all or part of your obligation.
• 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.
• Since the gift doesn’t 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.

For Those 59½ Years Old or Older

If you are at least 59½ years old, you can take a distribution and then make a gift from your IRA without penalty. If you itemize your deductions, you can take a charitable deduction for the amount of your gift.

At Any Age

No matter your age, you can designate Duke Divinity School as the beneficiary of all or a percentage of your IRA and it will pass to us tax-free after your lifetime. It’s simple, just requiring that you contact your IRA administrator for a change-of-beneficiary form or download a form from your provider’s website.

Tip: It is critical to let us know of your gift because many popular retirement plan administrators assume no obligation to notify a charity of your designation. The administrator also will not monitor whether your gift designations are followed. We would love to talk to you about your intentions to ensure that they are followed. We would also like to thank you for your generosity.

Resources

Next Steps

1. Contact Rev. Daniel Corpening at 919-660-3534 or external@div.duke.edu for additional information or to chat more about the different options for including the Divinity School in your will or estate plan.
2. Seek the advice of your financial or legal advisor.
3. If you include the Divinity School in your plans, please use our legal name and federal tax ID.

Legal name: Duke University Divinity School
Address: Office of Gift Planning, Duke University, Box 90600, Durham, NC 27708
Federal tax ID number: 56-0532129