How do I make an IRA charitable rollover gift?
The process is simple: You contact your IRA administrator to make a gift of up to $100,000 each year directly from your IRA to the Foundation. To avoid having the amount taxed as income, you should not withdraw the funds yourself prior to making the gift. You can also contact the Foundation to designate your gift toward a specific area of the university.
What if I’m already set up to receive my minimum distribution?
If you are set up to automatically receive your distribution each year, you may want to turn off the payment and instead request two distributions: the charitable rollover and any remaining minimum distribution amount. For example, if you will automatically receive a $25,000 distribution, you could stop the payment and request two: a $10,000 distribution directly to the Foundation, and a $15,000 regular distribution. Together, these will have satisfied your required minimum distribution for the year.