Larry Arnold '65

Join Me in Taking Advantage of the IRA Rollover!

"I have many fond memories of my days on the Morningside campus; from meeting my lovely wife (Joan Errett Arnold '67) to learning valuable life lessons from numerous faculty members. Joan and I wholeheartedly believe in giving back to the school that gave us so much; and we found an easy and impactful way to do so - through a direct rollover from our IRA account to the university. I invite you to join me in utilizing this simple, tax free method of supporting Morningside." - Larry Arnold '65

What is an IRA Rollover Gift?

Congress has made permanent the IRA charitable rollover. This means that if you are 70 ½ or older, you can make a charitable gift of up to $105,000 directly from your IRA. If you are required to take a required minimum distribution ('RMD'), your gift will qualify as your RMD, and you will not have to pay federal income tax on the amount given from your IRA to Morningside University. Note that a recent legislative change established a new age of 72 for your first required minimum distribution for those who turned 70 ½ after January 1, 2020.. In addition, pursuant to the COVID relief legislation, no one is required to take an RMD in calendar year 2020 (taxpayers are still able to make charitable distributions despite this change). Please contact us for more information.

If you are like many donors, your tax burden continues to increase. By transferring some of your IRA required distribution to Morningside, you can lower your taxable income. With lower taxable income, you could reduce your income and capital gains taxes this year. Check with your advisor to see how an IRA rollover gift could impact your taxes while helping our mission.

How to Make an IRA Rollover Gift to Morningside University

To make an IRA rollover gift, simply contact your IRA custodian and request that an amount be transferred to us. Your gift could be $1,000, $10,000, $50,000 or even up to $105,000. Contact us to learn more about how you can redirect unneeded IRA income to Morningside, help further our mission and enjoy valuable tax savings this year.

Help Us in the Future!

If you are not ready to make a gift to us from your IRA this year, consider making a gift in the future. A bequest of part or all of your IRA permits you to make full use of your funds during your lifetime. We benefit in the future from what remains. Your plan custodian can provide you with a form to designate us as a beneficiary of your IRA. Please contact us if you wish to learn more about making a bequest.