A retirement plan gift may be a tax-efficient and simple way of including ACG in your estate plan.
Giving from your retirement plan as part of your estate plan
One easy method of making an impact on ACG is to name ACG on your plan’s beneficiary designation form. There is also a potential tax advantage to you because most retirement plans (other than Roth IRAs) are subject to income taxes—and possibly estate taxes—if left to an individual beneficiary; however, a charity that is named as the beneficiary does not pay income or estate taxes on the distribution. Thus, the full value of what is distributed can be used by ACG, supporting the purpose you designate.
To name ACG as a beneficiary, you can obtain a beneficiary designation form from your IRA plan administrator. That form usually asks for the name of the beneficiary (The American College of Greece), its address (31 State Street, 4th Floor, Boston, MA 02109), and a tax identification number (04-2306054). This will provide an unrestricted gift to ACG. If you would like to direct your future gift to a specific purpose, contact the Advancement Office for appropriate documentation.
IRA qualified charitable distribution (QCD)
You may also be able to make a gift to charity with a “qualified charitable distribution” or “IRA charitable rollover” from your Individual Retirement Account (IRA) and take advantage of tax savings. Before proceeding, you should also consult with your tax advisor to discuss your particular situation including any impact of your state’s tax laws.
If you make a gift to ACG from your IRA, please include written instructions on how you would like to designate your gift.
Gifts may be sent to:
The American College of Greece
101 Arch St., 8th Floor
Boston, MA 02110
The American College of Greece’s federal tax identification number is 04-2306054.
If you have any questions or concerns, please contact:
Advancement Office
The American College of Greece
101 Arch St., 8th Floor
Boston, MA 02110
Tel: 857-284-7908
[email protected]