The impact that donors have on the student experience at Randolph-Macon College is felt year-round. But as we approach the end of the year, now is specifically the ideal time to consider a year-end gift to RMC—and the tax benefits that gift might have.

While every gift makes a difference, one effective way to support Randolph-Macon while potentially realizing tax benefits is by gifting appreciated stock. When you donate appreciated securities that you have held for more than one year, you may be able to avoid paying capital gains tax on the appreciation. If you itemize your deductions, you may also be eligible for a charitable deduction based on the stock’s fair market value at the time of the gift, subject to applicable tax rules and limitations.

If you are 70.5 years old, you can also take advantage of the IRA Qualified Charitable Distribution (QCD). This allows you to transfer a cumulative total of up to $111,000 directly from your IRA to the College and other charities free from income tax on the withdrawal. This strategy may also help fulfill your required minimum distribution, maximizing your charitable giving potential.

If you leave retirement plan assets to your family or friends after your death, these gifts may be reduced by income and estate taxes. To avoid that tax liability, consider leaving retirement assets (such as IRA, 401(k), 403(b), or TIAA-CREF plans) to Randolph-Macon and other tax-exempt charities. Then, use other assets (such as insurance, stock, or real estate) to make bequests to family members and friends.

If you would like to donate funds currently held in a 401(k), 403(b), or other qualified retirement account, roll them into an IRA first, then make your QCD from the IRA.

Regardless of how you give to the College, your donation bolsters the myriad ways our community works to shape the mind and character of our students. We are endlessly grateful for your gifts; we could not do what we do without your generosity!