Make a Gift from Your IRA

A tax-free transfer from your IRA to the University of St. Thomas is a great opportunity for donors who:

 

• Plan to make charitable donations
• Don't need the money they must withdraw as Required Minimum Distributions (RMDs)
• Want to support the mission of the University of St. Thomas

 

Qualified Charitable Distribution Requirements

 

The U.S. Congress made the rules that allow tax-free Qualified Charitable Distributions from IRAs (often called IRA charitable rollovers) permanent in 2015. Tax benefits associated with Qualified Charitable Distributions are subject to precise and specific requirements, such as:

 

• A minimum age—the donor must be at least 70½ years old
• a qualified public charity—no gifts to private foundations, or to set up donor-advised funds or split-interest charitable trusts
• a direct transfer—money must be moved directly from the IRA account to the charity
• a maximum amount—no more than $100,000 per year

 

A donor can use Qualified Charitable Distributions to satisfy all or part of the Required Minimum Distribution (up to $100,000). This is an attractive option for donors who are still working, have sufficient retirement assets or find themselves in a higher tax bracket.