IRA Charitable Rollover
If you are 70½ or older you may be interested in a way to lower the income and taxes from your IRA withdrawals. The IRA charitable rollover is a way you can take your mandatory contribution and make a gift to Bellarmine.
Benefits of an IRA charitable rollover
- Avoid taxes on transfers of up to $100,000 from your IRA to Bellarmine University
- 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 deduction limits on charitable gifts
How an IRA charitable rollover gift works
- Contact your IRA plan administrator to make a gift from your IRA to Bellarmine.
- Your IRA funds will be directly transferred to Bellarmine University
- IRA charitable rollover gifts do not qualify for a charitable deduction.
- Please contact us if you wish for your gift to be restricted for a specific purpose.
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.