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IRA Charitable Rollover

What is a Charitable IRA Rollover?

The charitable IRA rollover is a permanent provision in the tax code that allows individuals who are 70.5 years of age or older to make charitable gifts from their Individual Retirement Accounts (IRAs) directly to the University of Dallas.

How does this help the University of Dallas?

If you are 70.5 years of age or older, you can take advantage of a simple way to benefit UD and receive tax benefits in return. You can give up to $100,000 from your IRA directly to qualified charities, such as UD, without having to pay income taxes on the money.

Why consider this gift?

  • Your gift will be put to use today, allowing you to see the impact your donation is making.
  • You pay no income taxes on the gift. The transfer does not generate taxable income, and it also does not generate a tax deduction.
  • If you have not taken your minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.

IRA Frequently Asked Questions

I have already named the University of Dallas as a beneficiary of my IRA. What are the benefits if I make a gift now instead of after my lifetime? 

By making a gift this year of up to $100,000 from your IRA, you can see your donated dollars at work. You are shaping the legacy you would like to leave and watching your philanthropy in action. Additionally, you can fulfill any outstanding pledges you may have made by transferring the pledge amount from your IRA as long as it does not exceed $100,000 total for the year.

How can I make an IRA gift? 

Transfers must be made by your IRA custodian from your IRA account directly to the University of Dallas. Funds you withdraw and then contribute will not qualify and will be taxable.

Can my gift be used as my required minimum distribution under the law? 

Yes. If you have not yet taken your required minimum distribution, the IRA charitable rollover gift can satisfy all or part of that requirement. Contact your IRA custodian to complete the gift.

I have two charities I want to support. Can I give $100,000 from my IRA to each?

No. Under the law, the maximum amount you can give from your IRA to qualified charitable organizations is $100,000. For example, you can give each organization $50,000 this year or any other combination that totals $100,000 or less. Any amount over $100,000 in one year must be reported as taxable income.