RETIREMENT PLAN GIFTS
GIVING FROM YOUR RETIREMENT PLAN
A retirement plan can be a tax-efficient and simple way of including the Pennsbury Scholarship Foundation in your estate plan. The best method is to name the PSF as a beneficiary on your plan's beneficiary designation form. To name the Pennsbury Scholarship Foundation 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 (Pennsbury Scholarship Foundation), its address (134 Yardley Ave., Fallsington, PA 19054), and a tax identification number (23-6390934). This will provide an unrestricted gift to the PSF.
IRA CHARITABLE ROLLOVERS
You also may be able to make a gift to the Pennsbury Scholarship Foundation with a distribution from your Individual Retirement Account (IRA), and take advantage of tax savings. Americans over the age of 70½ can distribute up to $100,000 in a calendar year from a traditional IRA to the Pennsbury Scholarship Foundation or other charities, tax-free.
If an IRA owner directs the IRA plan administrator to distribute any amount up to $100,000 to charity, the distribution counts toward the owner’s Required Minimum Distribution, but is not included in his or her income for income tax purposes. Contact your tax advisor to discuss specific benefits for you, and your IRA Administrator for instructions on making an IRA Charitable Rollover gift to the Pennsbury Scholarship Foundation. Please notify us of your gift so we can properly acknowledge you when it arrives.Gifts may be mailed to:Pennsbury Scholarship FoundationBox 338, 134 Yardley AvenueFallsington, PA 19058The Pennsbury Scholarship Foundation’s federal tax identification number is 23-6390934.This site is informational and educational in nature. It does not offer professional tax, legal, or accounting advice. For specific advice about the effect of any planning concept on your tax or financial situation or with your estate, please consult a qualified professional advisor.