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Board member fosters mission with giving through IRA

Board member fosters mission with giving through IRA

FranU Board member Jan Breen's IRA charitable rollover is benefiting the University while also lowering her tax liability and she encourages others who are eligible to give in this way.

"As a board member, I wanted to foster the mission of FranU, which is to educate and form Franciscan servant leaders," Jan said. "One way I can help the University is to make a Qualified Charitable Distribution from my traditional IRA. It is a wonderful way to support FranU."

A Qualified Charitable Distribution (QCD), also known as an IRA charitable rollover, allows account holders age 70 and older to contribute directly from their account to qualified charities like FranU. A maximum of $105,000 may be contributed in this way each year, and for those who must take a Required Minimum Distribution (RMD), these transfers can fulfill part or all of that requirement. This offers potential tax benefits since the account holder is not taking the income, but rather directing it to charities.

"Donors who contribute to FranU through an IRA charitable rollover can lower their tax liability and also help deserving students at FranU with their gift to fund scholarships and programs," said Vice President of Institutional Advancement Judith Roberson. "We especially encourage anyone needing to take a RMD to speak with their financial advisors and consider a gift in this way to FranU. It's a win/win!"


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