IRA charitable rollover
You may be looking for a way to make a big difference and support VCU. If you are 70½ or older you may also be interested in a way to lower the income and taxes from your IRA withdrawals. An IRA charitable rollover is a way you can support VCU and benefit every year you do.
Benefits of an IRA charitable rollover
- Avoid taxes on transfers of up to $100,000 from your IRA to VCU*
- Satisfy your required minimum distribution (RMD) of up to $100,000 for the year
- Reduce your taxable income, even if you do not itemize deductions
- Make a gift that is not subject to the 50% deduction limits on charitable gifts
- Support something that is important to you at VCU
How an IRA charitable rollover gift works
- Contact your IRA plan administrator to make a gift from your IRA directly to VCU.
- Your IRA funds are directly transferred to VCU* to support an area that is important to you.
- Please note that IRA charitable rollover gifts do not qualify for a charitable deduction because they are not included in your income.
- Please contact us if you wish for your gift to be used 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.
*Or an affiliated foundation for the benefit of VCU.