Gift Planning

Building Westmont's
Future Together

Our Gift Planning team has experience across a range of giving opportunities, and we are always available for phone calls and personal visits to discuss your particular areas of interest, from designating Westmont in your wills or trusts to exploring life income gifts with generous tax benefits.

We offer supplemental estate planning and tax guidance information on these web pages through our planned giving partner, Crescendo Interactive, Inc. Based in Camarillo, CA, Crescendo has been a preferred service provider for over 30 years among colleges, universities, faith organizations, professional advisors and other nonprofit organizations.

Mona Motte Wilds
Director of Gift Planning

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IRA Qualified Charitable Distribution

The CARES Act passed by Congress on March 27, 2020, suspended the required minimum distribution (RMD) from IRAs for 2020.
You may still wish to use IRA funds to make a qualified charitable distribution (QCD).

If you are 70 ½ or older, a gift from your IRA allows you to give pre-tax assets in the form of a Qualified Charitable Distribution (QCD). The gift of a QCD allows you to satisfy your Required Minimum Distribution (RMD) and to contribute up to a maximum of $100,000 a year to Westmont and other charities.

Benefits of an IRA Qualified Charitable Distribution

  • Your gift is excluded from taxable income, which is a nice tax benefit if you do not itemize deductions
  • It may prevent you from being pushed into a higher tax bracket and help you avoid the limit on charitable deductions
  • It may also reduce the Medicare Part B premiums you pay
  • It minimizes the effect on your cash flow; the gift is from your assets, not your checkbook
  • It allows you to make a significant gift to support Westmont

How Does the QCD from Your IRA Work?

IRA Charitable Rollover
IRA (Custodian)
Westmont
Charity image

How to Make a Gift From Your IRA

  1. Contact your IRA custodian to instruct them to make a direct gift (a Qualified Charitable Distribution) from your IRA to Westmont.
  2. Once you have instructed your IRA custodian, please let our office know to expect your gift as many custodians send a check without other documentation such as your name. Inform Westmont at (805)565-6058 or giftplanning@westmont.edu.
  3. Your IRA custodian will send a check directly to Westmont.
  4. For year-end gifts, requests to your IRA custodian should be made by December 1 to guaranty that Westmont receives your gift by December 31.

Qualified Charitable Distributions do not increase your adjusted gross income as a taxable IRA distribution would. Please note that QCDs do not qualify for a charitable deduction. The tax benefit results from the reduced taxable income.

Contact us

If you have questions about an IRA Qualified Charitable Distribution or if would like to designate your gift for a specific purpose, please contact us. We are happy to assist you and answer any questions you might have.

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Calculate Plan
eBrochure
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Text Resize
Print This
Email This
Calculate Plan
eBrochure
Contact Us
View Video

IRA Qualified Charitable Distribution

The CARES Act passed by Congress on March 27, 2020, suspended the required minimum distribution (RMD) from IRAs for 2020.
You may still wish to use IRA funds to make a qualified charitable distribution (QCD).

If you are 70 ½ or older, a gift from your IRA allows you to give pre-tax assets in the form of a Qualified Charitable Distribution (QCD). The gift of a QCD allows you to satisfy your Required Minimum Distribution (RMD) and to contribute up to a maximum of $100,000 a year to Westmont and other charities.

Benefits of an IRA Qualified Charitable Distribution

  • Your gift is excluded from taxable income, which is a nice tax benefit if you do not itemize deductions
  • It may prevent you from being pushed into a higher tax bracket and help you avoid the limit on charitable deductions
  • It may also reduce the Medicare Part B premiums you pay
  • It minimizes the effect on your cash flow; the gift is from your assets, not your checkbook
  • It allows you to make a significant gift to support Westmont

How Does the QCD from Your IRA Work?

IRA Charitable Rollover
IRA (Custodian)
Westmont
Charity image

How to Make a Gift From Your IRA

  1. Contact your IRA custodian to instruct them to make a direct gift (a Qualified Charitable Distribution) from your IRA to Westmont.
  2. Once you have instructed your IRA custodian, please let our office know to expect your gift as many custodians send a check without other documentation such as your name. Inform Westmont at (805)565-6058 or giftplanning@westmont.edu.
  3. Your IRA custodian will send a check directly to Westmont.
  4. For year-end gifts, requests to your IRA custodian should be made by December 1 to guaranty that Westmont receives your gift by December 31.

Qualified Charitable Distributions do not increase your adjusted gross income as a taxable IRA distribution would. Please note that QCDs do not qualify for a charitable deduction. The tax benefit results from the reduced taxable income.

Contact us

If you have questions about an IRA Qualified Charitable Distribution or if would like to designate your gift for a specific purpose, please contact us. We are happy to assist you and answer any questions you might have.

Print This
Email This
Calculate Plan
eBrochure
Contact Us
View Video
scriptsknown

Donor Stories

Learn how our supporters have made an impact through their acts of giving to Westmont. Be inspired by the various ways of giving used by our alumni, parents and friends.

Learn More