IRA Gift Benefits

A Smart Way to Invest in Minnesota State Mankato

  • Your gift starts making an impact right away, allowing you to see the difference your support 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 have not yet taken your required minimum distribution for the year, your IRA qualified charitable donation can satisfy all or part of that requirement.
  • Avoid taxes on transfers of up to $100,000 from your IRA to our organization.
  • Satisfy your required minimum distribution (RMD) for the year.
  • Reduce your taxable income, even if you do not itemize deductions. QCDs count toward your required minimum distribution for the year. If you must take a RMD but you don't really want or need the money, a QCD can be a thoughtful way to distribute the minimum required amount out of the IRA and avoid that 50% excise tax penalty. You'll avoid paying income tax on the distributions while investing in educational opportunities at Minnesota State University, Mankato.
  • Because income from a charitable distribution "bypasses" the taxpayer's 1040, QCDs can be used to help keep your adjusted gross income (AGI) and taxable income within a desired range. This can help prevent your income from reaching the thresholds for the net investment income tax.
  • Help further the mission of Minnesota State Mankato.

Gift Designations

Please contact your Development Officer or Jodi Bruns to ensure your gift is designated for a specific purpose, program or department.

It is wise to consult with a tax professional if you are contemplating a qualified charitable gift. The information on this website is not intended as legal or tax advice. References to tax rates include federal taxes only. State law may further impact your individual results. Tax laws can change, and the above information may not reflect the most recent changes. Please consult with an attorney or a tax professional for the most up-to-date advice. The information contained on this page is not intended as tax advice and it is not a substitute for tax advice.