IRA Charitable Gifts
The IRA Charitable Rollover has been extended through December 31, 2013. The charitable IRA rollover legislation allows you to transfer lifetime gifts up to $100,000 using funds from your individual retirement account (IRA) without undesirable tax effects.
- You may give funds to St. Olaf this way if...
- You are age 70½ or older at the time of the gift.
- You make a qualified charitable distribution of any amount up to $100,000 on or before December 31, 2013.
- You transfer funds directly from an IRA.
- You transfer the gifts outright to one or more qualified charities, but not to supporting organizations, or for gift annuities, charitable trusts, donor advised funds or any gift from which you receive a personal benefit.
Give from an IRA
Contact your IRA administrator for instructions on making a qualified IRA charitable gift. Or use the sample letter here (doc). Your IRA administrator can make a direct distribution from your IRA account to St. Olaf College by sending the distribution check to:
St. Olaf College
Assistant Vice President and Chief Investment Officer
1520 St. Olaf Ave
Northfield, MN 55057
Tax ID 41-0693979
Please instruct your IRA administrator to identify you as the IRA account holder - with your name and address - on the distribution check and accompanying materials.
Please inform us that you are making an IRA charitable distribution so that we can provide appropriate acknowledgment of your gift. Contact us at 800-776-6523 or email@example.com.
Read answers to common questions about IRA gifts.