Areas of Need

Future Gifts

IRA

Legislation Lets You Use Your IRA to Help Others

Extended charitable IRA legislation allows you to make gifts to us by transferring funds from your IRA without incurring tax consequences. You can accomplish the gifts by contacting your IRA plan administrator—and the transfers are not included in your taxable income and are not tax-deductible.

You must meet these guidelines:

You are age 70½ or older at the time of the gifts.
Your gifts total $100,000 or less in 2009.
You transfer funds directly from your IRA.
You transfer the gifts outright to one or more qualified public charities, but not supporting organizations, gift annuities, charitable trusts or donor advised funds.
You complete your gifts by Dec. 31, 2009.

Note that for the calendar year 2009, required minimum distributions are waived from IRAs and other qualified retirement plans.

Please contact Planned Giving at 612-624-3333 or 800-775-2187 or plgiving@umn.edu to find out more about this opportunity that enables you to witness the far-reaching benefits of your generosity.

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The information in this Web site is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to income tax apply to federal taxes only. Federal estate tax, state income/estate taxes or state law may impact your results.