IRA Charitable Rollover
If you are 70½ or older you may also be interested in a way to lower the income and taxes from your IRA withdrawals. An IRA charitable rollover is a way you can make a gift to Wright State University and a receive tax benefit this year.
Benefits of an IRA charitable rollover
- Avoid taxes on transfers of up to $100,000 from your IRA to Wright State
- 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 50% deduction limits on charitable gifts
- Support the scholarship, program, or area of the university you wish to benefit
How an IRA charitable rollover gift works
- Contact your IRA plan administrator to make a gift from your IRA to the Wright State University Foundation.
- Your IRA funds will be directly transferred to the Foundation.
- Please note that IRA charitable rollover gifts do not qualify for a charitable deduction.
- Please contact us to tell us how you wish your gift to be designated.
If you have any questions about an IRA charitable rollover gift, please contact us. We would be happy to assist you and answer any questions you might have.