IRA Charitable Rollover
If you are 70 ½* or older and have a traditional Individual Retirement Account (IRA), you can use your required minimum distribution to support Notre Dame through an IRA Charitable Rollover gift.
For your gift to qualify:
- You must be 70 ½ or older at the time of your gift
- The transfer must go directly from your IRA to Notre Dame
- Your total annual IRA gift(s) cannot exceed $100,000
- Your gift must be made to Notre Dame by December 31
- Your gift must be outright. IRA Charitable Rollover gifts to donor-advised funds or life-income vehicles such as charitable gift annuities or charitable remainder trusts are not allowed.
An IRA Charitable Rollover Gift May Benefit You:
- As an easy and convenient way to make a gift from one of your major assets. You may also consider renewing or increasing your annual gift with your IRA Charitable Rollover
- An exclusion from your gross income: a tax-free rollover
- By counting toward your required minimum distribution
Making Your Gift is Easy
Before December 31 of this year:
- Contact your IRA custodian
- Ask that your distribution be a charitable rollover to Notre Dame
- Ask them to include the following in the transfer**
- Your name
- Your address
Make Notre Dame a Beneficiary of Your IRA
You may also consider making a charitable bequest of part of or all of your IRA to Notre Dame. By making Notre Dame the beneficiary of your IRA, you eliminate the potential for double taxation (federal estate and income taxes) that your heirs may face if they were named beneficiary of this asset.
Key Benefits to Making Notre Dame a Beneficiary of Your IRA:
100 percent of your IRA assets goes to a charitable purpose that is important to you and your estate can avoid taxation of up to 60 percent of your IRA assets by eliminating estate and income taxes of these assets. Notre Dame will keep 100 percent of the IRA assets and will apply them to a charitable purpose you choose.
By transferring your IRA to Notre Dame directly upon your death, your estate may claim a charitable estate tax deduction. Neither your estate nor your heirs will have to report any taxable income from the distribution.
- By eliminating estate and income taxes of your IRA assets, an IRA bequest is one of the most tax efficient ways to fund a charitable gift from your estate.
The best way to make a gift of your IRA assets is to name your Notre Dame as the beneficiary on your IRA beneficiary designation forms. To designate Notre Dame as a beneficiary of your IRA, simply contact your plan custodian and they will provide you with the IRA beneficiary designation forms to make this bequest.
Your bequest will also qualify you to become a member of the Stephen Theodore Badin Guild, established to honor all those who make Notre Dame a part of their personal legacy by creating a planned gift. To learn more about becoming a member of the Badin Guild and Badin Guild member experiences, please contact us at email@example.com or 877-631-8631.
Additional Year-End Tax Savings Strategies
In addition to a gift through your IRA Charitable Rollover distribution, please also consider the following year-end tax-saving strategies for your philanthropic giving, including:
- Gifts of Cash
- Gifts of Securities
- Gifts that Produce Income
- Matching Gifts from Your Employer
Contact us today at 877-631- 8631 or firstname.lastname@example.org.
*If you have not yet reached 70 ½, you may know someone who is and could benefit from this opportunity.
**To ensure that we can promptly and accurately credit your gift to you and allocate it according to your wishes, transfers from your financial institution need to include your name and address.
The University of Notre Dame is an educational institution and does not provide tax, legal, or financial advice. Any document or information shared by our staff is intended to be educational. Notre Dame strongly encourages all of our benefactors to seek counsel from their own legal and financial advisers. Please know that any information or documents shared by Notre Dame cannot be used to avoid tax-related penalties.