Making a Qualified Charitable Distribution from your IRA
If you are at least 70 and ½ years of age, you can turn the required minimum distribution (RMD) from your regular IRA into a gift for The Cooper Union. Simply instruct your fiduciary to transfer your distribution directly to The Cooper Union. Checks should be made payable to:
The Cooper Union EIN 13-5562985
Ask your financial institution to mail your check to:
The Cooper Union
P.O. Box 22422
New York, NY 10087
By making this qualified charitable distribution (QCD) to The Cooper Union, you can avoid income tax on your IRA withdrawal while providing essential support to our students and faculty.
Your QCD amount may be used to satisfy your RMD for the tax year in which your QCD is delivered to Cooper, but please note that 401(k) and 403(b) plans are not eligible for this gift. Total QCDs for any individual must not exceed $100,000 in a single calendar year.
Designating Cooper as a Beneficiary of your Retirement Plan
You can designate all or a portion of your retirement plan to The Cooper Union by adding us to your designation of beneficiary form. Ask your fiduciary how to obtain and complete this form. 100% of your gift is tax free, avoiding costly income taxes imposed on your heirs should they be designated beneficiaries. You can designate The Cooper Union as the beneficiary of other assets as well.
The information contained herein is not intended as legal or tax advice. We recommend that you consult with your attorney or financial advisor for questions concerning your individual situation.