If you are at least 70½ years old, you are eligible to make a Qualified Charitable Distribution (QCD) from a traditional or Roth IRA. A QCD can provide a more tax-efficient way for you to make your charitable contributions.
For a more complete description of the IRS regulations, please see the most recent version of Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs) at https://www.irs.gov/publications.
The QCD Toolkit includes two sample letters you can download to help you make a QCD gift to the University of Virginia and/or any of its schools and programs.
Letter 1 directs your IRA plan administrator to make a distribution from your IRA account to the University. Please note that you must include a federal tax ID number with your distribution request.
Letter 2 notifies the University to expect the QCD from your IRA and specifies how you want your gift to be used.
You may contribute your QCD gift to the University or any of its schools, units, programs, or related foundations. For a distribution to the University, please designate The Rector & Visitors of the University of Virginia, tax ID #54-6001796. For a distribution to a University-related foundation, please insert the name and tax ID in the sample letter where indicated. We will be happy to provide you with that information on request.
You may further designate your gift for either unrestricted or restricted use by the recipient. If you wish to restrict your QCD to support a particular program or priority, we recommend you contact us first to review your intended provisions so we can be certain we can carry out your wishes.
You may choose two or more beneficiaries by assigning a percentage of your total gift to each.
Please contact the Office of Gift Planning with any questions (434-924-7306, 800-688-9882, or email@example.com).
|Download sample letter to IRA Plan Administrator
||Download sample letter to notify UVA|
UVA Federal Tax ID Numbers
Contact the Office of Gift Planning for assistance and clarification.