The Charitable IRA Rollover has been permanently extended and retroactive to December 31, 2014. Gifts transferred directly from your IRA to Aurora University/George Williams College during 2015 will qualify as a rollover gift.
If you own a traditional IRA and are age 70 ½ or over as of December 31, 2015, a charitable IRA rollover is a tax-savvy and easy way to support today’s students.
• The charitable IRA rollover can be used to satisfy your required minimum distribution (up to $100,000)
• The rollover amount is not subject to income tax
• Gift will not be subject to charitable gift limitations
• May be used to satisfy an outstanding pledge
Quick Recap of the IRA charitable rollover rules:
• The donor transfers up to $100,000 directly from the donor's IRA to one or more qualified charities.
• This opportunity applies only to IRAs and not to other types of retirement plans.
• The gift must be outright. Gifts to donor advised funds, trusts and annuities do not qualify.
• The donor does not receive any goods or services in return for the rollover gift in order to qualify for tax-free treatment.