Qualified Charitable Distributions

If you are 70 1/2 or older, you can direct up to $105,000 towards SUNY Geneseo from your IRA.

Why should I consider a qualified charitable distribution (QCD)?

  • Tax Efficiency: QCDs lower your adjusted gross income, potentially reducing your federal and state tax brackets and Medicare costs.

  • Simplified Giving: Direct IRA transfers streamline donations, bypassing the need for itemized deductions.

  • Greater Impact: Allows for more generous giving due to tax savings, making each donation more impactful for both the donor and Geneseo students.

Diane Wolcott '75 supports SUNY Geneseo yearly through qualified charitable distributions, a savvy approach that enhances students' education while benefiting her financially. 

Portrait of Daine Wolcott

"I choose to give to Geneseo to level the playing field," says Wolcott. "It's not always about how much you give, but how you give it." 

This strategic giving method reduces her taxable income, maximizing the impact of her generosity and demonstrating a thoughtful blend of altruism and financial wisdom in supporting future generations of Geneseo students.

Making a gift through Qualified Charitable Distributions (QCDs) is surprisingly straightforward and efficient. For those with Individual Retirement Accounts (IRAs), it involves simply instructing your financial institution to transfer funds directly from the IRA to the chosen charity. This process bypasses the need to withdraw funds and then make a donation, thereby simplifying the giving process. 

Questions? Contact the Office of College Advancement at 585-245-5518, or send an email to: fund@geneseo.edu