IRA Charitable Distribution
If you are 70½ or older you may be interested in an opportunity to contribute to the University while lowering the taxes on your IRA withdrawals. An IRA Charitable Distribution is a way you can support education at the University and reduce your taxable income.
"I made a gift directly from my IRA to establish an endowed scholarship in memory of my beloved wife. This was a meaningful and tax-savvy way to invest in the future of deserving students."
Martin Arnold '97
Benefits of an IRA Charitable Distribution
- Avoid taxes on transfers of up to $100,000 from your IRA to the University
- May satisfy your required minimum distribution (RMD) for the year
- Reduce your taxable income, even if you do not itemize deductions
- Make a gift that is not subject to the deduction limits on charitable gifts
- Help further the educational work of the University
How an IRA Charitable Distribution works
- Contact your IRA plan administrator to make a gift from your IRA to us. Click here for IRA Charitable Distribution Transfer Instructions.
- Your IRA funds will be directly transferred to the University to support our educational work.
- Please note that IRA Charitable Distributions do not qualify for a charitable deduction.
- Please contact us if you wish for your gift to be used for a specific purpose.
"I made a gift directly from my IRA to establish an endowed fund that supports the healthcare administration program that launched my career. It's easy to make a distribution from my IRA, and it reduces my taxable income."
J. David Jacocks '71
If you have any questions about an IRA Charitable Distribution, please contact us. We would be happy to assist you and answer any questions you might have.