Establishing an endowed scholarship
The Pension Protection Act, which was just renewed by Congress, provides for tax-free gifts to charities made directly from one’s Individual Retirement Account (IRA).
To take advantage of this opportunity, the following must occur:
You must be 70½ or older and required to take a minimum distribution from your IRA account.
You transfer funds directly from an IRA or Rollover IRA with the help of your plan administrator. 401(k)s and 403(b)s are not eligible giving vehicles.
The gifts are not more than $100,000 in total.
You make the gift to Teachers College to establish an endowed scholarship in your name or in honor of a loved one or esteemed professor.
Please note that these gifts cannot be used to establish a charitable gift annuity or a charitable remainder trust, and these gifts are not eligible for a charitable deduction.
For more information, please visit the giving pages on our Web site at www.tc.edu/supporttc or call the office of Development and
Published Friday, Jan. 16, 2009