For several Oklahoma State University supporters, the opportunity for building the future of education is powerful. That was a key motivator for Richard and Melody Hatfield when they chose to create a planned gift at OSU. With two options to give through an IRA, they were eager to get involved.
Richard spoke extensively of the experiences he’s had as a result of his OSU degree. “I give the university the credit for my life,” he said. “They gave me the opportunity to do a lot of things that I could have never done, so I try to give back to them.”
The Hatfields chose to leave a lasting legacy at OSU by including the university as a beneficiary of their IRA. This giving vehicle allows them to designate their gift to a specific fund — the Richard G. Hatfield and Melody N. Hatfield Endowed Scholarship, which was started by the couple.
The second avenue for giving through an IRA is through the required minimum distribution. This option allows friends and alumni that have reached the age of 70 ½ to designate their minimum distribution as a gift to OSU.
Using an IRA to give through the required minimum distribution (RMD) leaves a lifelong impact at OSU. Gifts up to $100,000 per year can be transferred through this avenue, and these funds are not taxable. Because the RMD requires certain funds to be withdrawn from an IRA annually, this is a wonderful opportunity to support Oklahoma State University — and it’s tax-free!
Both of these IRA avenues are incredible options to make a difference at Oklahoma State. Our friendly planned giving staff is always happy to answer questions. You can contact Sarah Brown at firstname.lastname@example.org, or call 405-385-5151.