The minimum age for making a qualified charitable distribution (QCD) from your IRA is 70½, and the annual limit is $100,000. This is an excellent way to show your support for Vermont Academy and receive tax benefits in return. As you plan your required minimum distributions, consider using your IRA account to make the most of your charitable giving. You receive a tax benefit even if you take the standard deduction!
To qualify, you must be 70½ or older at the time of gift; distributions must be made directly from a traditional IRA account by your IRA administrator; and gifts must be outright, meaning they go directly to VA. Distributions to donor-advised funds or life-income arrangements such as charitable remainder trusts and charitable gift annuities do not qualify, nor do gifts from 401k, 403b, SEP and other plans.
The benefit to you is that these distributions are excluded as gross income for federal income tax purposes on your IRS Form 1040 and the gift counts toward your required minimum distribution for the year in which you made the gift. Plus, you could avoid moving into a higher tax bracket that the distribution might cause.
There are numerous ways to make Vermont Academy part of your legacy. Two of the most common methods are listed below. The Advancement office is also happy to explore giving vehicles with you that provide lifetime income and tax benefits for you and your loved ones.
Bequests are a simple way to support Vermont Academy. Just add a provision in your will or trust designating either a percentage, specific amount, or all or a portion of the residue of your estate to the school. You can designate your gift or leave it unrestricted for general use–and gifts of all sizes are appreciated.
Naming Vermont Academy as the beneficiary of all or a portion of a retirement account, bank or brokerage account, donor-advised fund or insurance policy, is a tax-smart way to make a gift to the school that leaves a lasting legacy while avoiding a significant built-in tax liability. When left to individuals, the value of the gift may decrease by up to 70%, but if used to make a gift to Vermont Academy, the funds are transferred tax-free and we are able to realize the full value of the gift.
Sample language for use as you plan your estate can be found here.
Please ask your sending bank to include name of donor as identifying information on the wire and designation (if any). Without this information, there may be a delay in crediting the appropriate program and acknowledging the donor.
Bank: TD Bank 2 Church Street Bellows Falls, Vermont 05101 802-463-4511
Account number: 5241905895
Account name: Vermont Academy
ABA number: 011600033
For international wires SWIFT code: NRTHUS33XXX
List of 4 members.
Director of Advancement
Wellesley College - BA University of Chicago - MBA
Tonia comes to Vermont Academy after eight years as a Development Officer at Springfield Hospital/Springfield Medical Care Systems. While there, she implemented a Grateful Patient Program and significantly grew its revenue from private foundations. Prior to that role, she worked for non-profits of varying sizes, including the Student Conservation Association (SCA) and the Great River Arts Institute.
Tonia has an MBA from the University of Chicago Booth School of Business and is a Certified Fundraising Executive (CFRE). She lives in Chester, Vermont with her family and rescue dog Ozzie. Tonia’s son Jeremy is a Vermont Academy alumnus (Class of 2018) who was as thrilled as his mother was to have her joining the Vermont Academy community.
Associate Director of Advancement, Operations and Stewardship
Liz joined the Vermont Academy community in 2011 when her daughter, Wyeth, enrolled as a freshman day student. As a VA parent, Liz has seen firsthand the transformational impact that VA has had on her daughter and her peers. To the title of proud VA parent, Liz now adds Director of the Vermont Academy Fund as a member of the Advancement Office. Liz is excited to harness her professional experience, volunteer interests, and passion for Vermont Academy into this role.
A 25-year veteran of Eastern Mountain Sports, an outdoor specialty retailer headquartered in Peterborough, NH, Liz held a variety of positions as she worked her way up through the organization. From positions in sales, customer service, and store management to ones tied to brand identity and strategic planning, it was a varied and fulfilling career.
Over the years, Liz has been involved with independent schools as a volunteer on a myriad of levels. Prior to her time at Vermont Academy, Liz played an active volunteer role at The Grammar School in Putney, VT, where she served as Trustee Chair for five years, participating in fundraising and serving on the Strategic Planning and Head-of-School Search Committees.
When not on the road connecting with our broader VA community, Liz can often be seen around campus with her camera—blending her love of photography with her enjoyment of cheering for our VA Wildcats. Along with photography, Liz’s other interests include a variety of outdoor pursuits that she enjoys with her family including skiing, hiking, and kayaking/canoeing.
Liz lives in Westmoreland, NH, with her husband, Ned, an Assistant Professor of English at Landmark College, and their daughter Wyeth ’15.
Director of Alumni Engagement
The College of William and Mary - MEd Massachusetts College of Liberal Arts - BA / BS
Nicole came to Vermont Academy in December 2020 with over ten years of alumni relations experience. In prior roles at Dartmouth College and Worcester State University, Nicole managed volunteer boards, planned major events, and implemented new programs. She is excited to join the Advancement team and looks forward to exploring new opportunities to engage alumni.
In her spare time, Nicole can be found kayaking, skiing, reading, or out for walks with her dog, Zoey. Nicole holds a Master of Education in Higher Education Administration from The College of William and Mary and dual bachelor’s degrees from Massachusetts College of Liberal Arts – one in math and the other in secondary education.
Dave Hodgson '89
Senior Associate Director of Admissions and Advancement