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Charitable IRA Rollover

Questions?

Amy O'Shaughnessy

Director, Development

Email amyoshau@iu.edu
Call 812-856-3065

A Charitable IRA Rollover is a smart way to, not only enjoy tax savings, but to support the values of the public broadcasting you love.

Here’s how it works:

  • Who? You must be 70½ or older to make an IRA rollover gift to WFIU or WTIU through the IU Foundation, a public charity.
  • What? Gifts of up to $105,000 can be transferred from your Traditional or Roth IRA to a qualified charity. $210,000 for taxpayers who are married and filing a joint return.
  • How? Instruct your plan administrator to send a specific dollar amount directly to the IU Foundation for the benefit of WFIU or WTIU. Your administrator can send the gift by check or electronic transfer. Please let us know of your charitable intentions so we can ensure your gift is processed in an accurate and timely manner.
  • When?  To qualify for a  tax deduction in this calendar year, your gift must be completed by December 31st in order to receive the maximum benefits.

Benefits to You:

  • Each dollar of your donation will count towards your required minimum distribution* for the year.
  • Tax Savings. You can exclude up to $105,000 from your federal gross income – resulting in lower taxable income and possible tax savings.
  • Impact. You will have the personal satisfaction of doing more for your community than you originally thought possible!
  • Caveat: No thank-you gifts or premiums are permitted in return. 

Tip: This tax savings is especially valuable to donors who do not itemize or who have reached their annual limit on itemized charitable deductions.

Charitable IRA Rollover gifts should be directed to the address below. The IU Foundation’s Tax ID # is 35-6018940:

Attention: Carrie Flatt
Office of Gift Planning Services
Indiana University Foundation
PO Box 500
Bloomington, IN 47402

Consult with your financial or tax advisor about this win-win opportunity. For further information, please contact Amy O'Shaughnessy at amyoshau@iu.edu or call 812-856-3065. Questions may also be directed to Carrie Flatt at the IU Foundation at carflatt@iu.edu.

The information on this website is not intended as legal or tax advice. For legal or tax advice, please consult an attorney.

* The RMD requirement has been waived for 2020, per the CARES Act signed into law on March 27, 2020.