The Office of Gift Planning and Endowments assists with issues that frequently arise at year’s end as donors consider taking advantage of charitable deductions for the current year. We are happy to help with:
- Transfer of stock or mutual fund shares
- Questions about split interest gifts (such as Charitable Gift Annuities and Charitable Remainder Trusts)
- Questions concerning the status of Charitable IRA Rollover legislation
Please contact our office at 1-800-970-9977 or email@example.com for more information.
Charitable IRA Rollovers
For those aged 70½ or older, it is possible to make tax-favored charitable gifts from traditional and Roth IRA accounts. On December 18, 2015, Congress passed legislation retroactively extending the charitable IRA rollover for 2015 and making this provision permanent for future years. The President signed the law December 18, 2015.
A total of up to $100,000 can be transferred directly from traditional or Roth IRAs to one or more qualified charities such as the University of Missouri free from federal income tax each year. There might also be state income tax savings. Amounts given in this way count toward required IRA minimum withdrawal amounts for the year of the gift.
To make such gifts, it is important to not withdraw funds prior to a gift, but have the gift amount distributed directly from an IRA to one or more qualified charities. Contact us, your IRA administrator or your tax advisor for more information.
If you are ready to make a charitable IRA rollover to the University of Missouri:
- Contact your IRA provider as soon as possible to initiate the rollover
- Contact the MU Office of Gift Planning and Endowments to alert the University to receive the rollover, call 1-800-970-9977, or email firstname.lastname@example.org.
NOTE: You should consult your tax advisors whenever considering a charitable gift for advice regarding your specific situation. Please understand that the information included in this message is provided for educational purposes only and is not intended as tax or legal advice.