Make a Gift to Northwestern Through your IRA

A Special Opportunity for Those 70½ Years and Older

You can give any amount (up to a maximum of $105,000) this year from your IRA directly to a qualified charity such as Northwestern without having to pay income taxes on the money. Gifts of any value of $105,000 or less are eligible for this benefit and make a difference at Northwestern. This popular gift option is commonly called a Qualified Charitable Distribution (QCD), but you may also see it referred to as an IRA Charitable Rollover.

Why Consider This Gift?

Your gift will be put to use today, allowing you to see the difference your donation is making.
If you are required to take minimum distributions, you can use your gift to satisfy all or part of your obligation.
You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
Since the gift does not count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.

Frequently Asked Questions

I am turning age 70½ in a few months. Can I make this gift now?+

I have several retirement accounts—some are pensions and some are IRAs. Does it matter which retirement account I use?+

Can my gift be used as my required minimum distribution?+

Do I need to give my entire IRA to be eligible for the tax benefits?+

When do I need to make my gift?+

I have two charities I want to support. Can I give $105,000 from my IRA to each?+

My spouse and I would like to give more than $105,000. How can we do that?+

Can I use the transfer to fund life-income gifts like charitable gift annuities or charitable remainder trusts?+

I have already named Northwestern as the beneficiary of my IRA. What are the benefits if I make a gift now instead of after my lifetime?+

For Those 59½ Years Old or Older

If you are at least 59½ years old, you can take a distribution and then make a gift from your IRA without penalty. If you itemize your deductions, you can take a charitable deduction for the amount of your gift.

At Any Age

No matter your age, you can designate Northwestern as the beneficiary of all or a percentage of your IRA and it will pass to us tax-free after your lifetime. The process is simple and just requires you to contact your IRA administrator for a change-of-beneficiary form or download a form from your provider’s website.

Tip: It is critical to let us know of your gift because many retirement plan administrators assume no obligation to notify a charity of your designation. The administrator also will not monitor whether your gift designations are followed. We would love to talk to you about your intentions to ensure that they are followed. Thank you for your generosity.

Next Steps

Use our tool Take Action: Give from Your IRA to connect to your retirement provider.
Alternately, ask your IRA administrator about making a direct transfer to Northwestern or have the administrator send a check from your account to us. You can use this form to make the request. To be tax-free, the donation must go directly from your account to Northwestern without passing through your hands. Please notify Northwestern of the incoming gift with this form.
Contact Northwestern Gift Planning at 800-826-6709 or giftplanning@northwestern.edu for additional information about making a gift from your IRA.
Seek the advice of your financial or legal advisor.

Legal name: Northwestern University
Legal address: 633 Clark Street, Evanston, Illinois 60208
Federal tax ID number: Please contact us for our federal tax ID number.