On Friday, December 18, 2015, the President signed legislation extending retroactively to January 1, 2015 and making permanent a provision that allows direct transfers to Hamilton (and other public charities) from IRAs. The amount of the gift is excluded from gross income — even though it counts toward the Required Minimum Distribution — and no income tax charitable deduction is allowed.
You may direct transfers to charities from IRAs without tax consequence, if:
You are at least 70 ½ years of age.
Your IRA administrator sends the check directly to Hamilton.
Transfers do not exceed $100,000 per year.
Gifts are outright — charitable trusts and gift annuities do not qualify.
For those who wish to benefit Hamilton, charitable gift annuities can make your assets productive, while making fixed payments to you for life. Please call Ben Madonia '74 at 866-729-0317 or go to the gift calculator.
This may be an opportune time to consider a gift of real estate, regardless of where it is located. By donating a personal residence, commercial property or undeveloped land, you may accomplish philanthropic and personal planning objectives. Read more about a gift of a vacation residence from Win and Lawry Gulick '52.
Hamilton received a Private Letter Ruling from the IRS allowing charitable remainder trusts to participate in the investment return of the College's endowment.
Hamilton makes a number of resources available to you, including the following: