Charitable IRA Rollover Giving: An Overview
Gifts are vital to UW Medicine — and using your IRA is a wonderful way to give.
Since the program began a few years ago, more than 350 charitable IRA rollover gifts have been made to UW Medicine. These gifts provide scholarships for students, support research in areas that range from cancer to Alzheimer’s disease, and help us make excellent medical care available to our patients at our medical centers and clinics.
Are you eligible to make a tax-free gift from your IRA?
- You must be 70 ½ or older on the date of the gift.
- You may donate up to $100,000 per year to a public charity (such as the University of Washington).
- Funds must be transferred directly to the UW from a traditional or Roth IRA.
- Your gift will count toward your required minimum distribution for the year of the gift.
When can you give?
The charitable IRA rollover exception used to be time-limited and episodic: on one year, off the next. Congress recently made it permanent, and you may give anytime you wish.
Make a tax-free, life-changing investment today.
If you’d like to learn more about the charitable IRA rollover program, contact your advancement officer at 206.543.5686 or firstname.lastname@example.org. Your financial advisor will also be happy to assist you with rollover-related inquiries.
Please note that you will recognize no taxable income on the transfer, and that you cannot claim an income tax deduction for the gift.