The Dollars & Sense of Giving IRA Assets to Houghton

Because the laws governing charitable gifts from individual retirement accounts (IRAs) became permanent at the end of 2015, more and more Houghton supporters are considering this kind of giving for the first time. We thought it would be helpful to hear from some of our generous Houghton alumni who have recognized the many benefits of giving through their IRAs and have been utilizing this method of charitable giving for several years.

Gary Larder ’62, considers Houghton University “a high priority ‘mission investment’ in today’s society” and gives in order to “participate in its service to our young people.” For him, giving out of his IRA is a convenient way to partner with Houghton that also makes financial sense. One simple call to his financial advisor sets the transfer in motion, and he receives a timely response from the Office of Advancement acknowledging his gift.

Another Houghton graduate, Norma Bence Grover ’63, is proud to be a member of a four-generation Houghton family and has “valued the impact that Houghton has made on my life, my family, and my alumni friends,” she says. “Because of that, I immediately started giving back financially to Houghton after graduating and have continued to do so annually.”

She appreciates that her qualified charitable distribution (QCD) doesn’t count as personal income on her tax forms, thereby reducing the taxes she must pay. Norma states, “Contributing your QCD to Houghton results in having more funds available to give to the college.” She suggests notifying the Office of Advancement of your intention to contribute using your QCD, making sure the check is made out to Houghton University, and always saving the stub for your records.

You can read more about making an annual charitable gift to Houghton University from your IRA in this edition of the James S. Luckey Society Newsletter. As always, Houghton University is grateful to alumni like Gary and Norma who have chosen to invest in our scholar-servants.