Gifts of Retirement Funds

• You make a commitment to Carleton today with little or no impact on your current cash flow or investments.
• You retain control over your assets during your lifetime.
• Your gift can be structured to benefit Carleton after you die, or after both you and your spouse have died.
• If you leave retirement assets to your family or friends after your death, these gifts may be reduced by income and estate taxes. To maximize your bequests:
  • Leave retirement assets (such as IRA, 401(k), 403(b), or TIAA-CREF plans) to Carleton and other charities.
  • Use other assets (such as insurance, stock, or real estate) to make bequests to family members and friends.

After your death, Carleton will be able to use your gift — either as an addition to the endowment or for a purpose you specify.

• To make Carleton a beneficiary of your retirement plan, simply contact your plan administrator and complete the required form. You may need to provide the following information:
  • Legal name: Carleton College
  • Address: One North College Street, Northfield, MN 55057
  • Tax ID#: 41-0694747
• If you express your gift as a percentage (e.g., “20 percent of my account”), you can maintain the same relative gifts to charities and your heirs, regardless of changes in account value.
• If you are considering designating your gift for a specific purpose, such as a scholarship fund or support for a specific department, contact us to ensure that we understand your wishes.

• Your gifts may count toward your RMD but do not count as income for federal income tax purposes.
• If you have already used up your charitable deductions or do not itemize your deductions, you can still make gifts through a QCD.
• You can use QCDs to make any outright gift, including:
  • Alumni Annual Fund gifts
  • 50th Reunion gifts
  • Pledge payments
  • Gifts to scholarships or other endowed funds

• You can give up to $105,000 to 501 (c)(3) charities, such as Carleton, each year from your IRAs.
• QCDs are tax-neutral for federal tax purposes—you don’t have to report them as income, and they are not eligible for charitable income tax deductions. State laws vary, however.
• QCDs can be used to establish a life income gift.
• If you dream of creating an even greater legacy at Carleton, consider making gifts over multiple years. For example, you could make QCDs over three years to meet the $250,000 suggested minimum for establishing a named endowed scholarship.
• If you would like to donate funds currently held in a 401(k), 403(b), or other retirement account, roll them into an IRA first, then make your QCD from the IRA.