Smart Way to Give Back this Tax Season

IRA giving — your smartest way of giving

As you finalize your tax returns in the coming weeks, we’ve heard from many of you looking for ways to make a difference in the lives of our students. The need for our graduates has never been greater, as pharmacists and health care professionals lead the way out of the pandemic.

Many of our supporters are shifting away from cash donations to have more impact at less cost — and for those 70.5 or older, one smart, non-cash asset to consider is a gift from your IRA.

IRA giving is especially relevant for 2021. After a brief suspension in 2020, the required minimum distribution—the legal amount you must withdraw from your IRA—is back, and may be bigger than in past years. But many ACPHS alumni and supporters are thrilled to hear that this requirement can be used to make a greater difference to our students’ research and the programs that you care about!

Typically, funds withdrawn from your IRA count towards your annual income, increasing your overall tax burden. But if you give these funds to a charitable organization instead, they are always tax-free, and can help you meet your RMD. 

What will your IRA gift help to achieve here at ACPHS? Not only will you support your savings, but you’ll support the next generation of health care leaders by fueling the College’s plans for the future, and preparing our students in this critical moment. 

IRA giving has traditionally involved tracking down forms from your custodian, and can be a pain to undergo. To make it easier, we wanted to share this free resource: it guides you through the simple process, fills out the forms for you, and can be used to complete your IRA gift in under 10 minutes — online or offline!

This tax season, plan ahead to support your savings — and our students.