IRA Charitable Rollover
The American Tax Payer Relief Act of 2012 (ARTA) extended the IRA Charitable Rollover provision, which allows donors to make tax-free distributions to an approved charitable organization, such as Brenau University, from their individual retirement account (IRA) with the following requirements.
• Donor must be 70 ½ years of age or older at the time of the distribution to Brenau;
• Gifts cannot exceed $100,000 per taxpayer per year;
• Transfers must be made directly from the IRA administrator to Brenau;
• Distributions can be made only from IRAs or Roth IRAs.
Don’t miss your chance to make a gift that can benefit both you and Brenau University. Take advantage of the opportunity now to leave a legacy for our students and receive welcome tax relief.
To make a gift from your IRA, follow these three simple steps:
Step #1: Contact Brenau’s Office of Gift Planning at (770) 297-5954 for assistance.
Step #2: Send a written request to your IRA plan administrator requesting that the distribution be made payable to Brenau University. See below for an example form letter.
Step #3: Designate your gift. You may wish to make a designation to support scholarships, athletics, a particular college, school or academic discipline.
Rollover an Existing IRA
Sample Letter for IRA Company
The following language can be used with your IRA Administrator to make a direct charitable distribution to Brenau University from an Individual Retirement Account:
Dear IRA Manager,
By this letter, I request that you make a direct charitable distribution from my Individual Retirement Account # __________ .
Please send me the appropriate form to issue a check from the above IRA account in the amount of $__________, payable directly to Brenau University, and send the check to the address below:
500 Washington St. SE
Gainesville, GA 30501
Brenau University’s tax ID number is: 58-0566143. These funds are to be used for ________________________.
In your transmittal letter to Brenau University, please mention my name and address as the donor of record in connection with this transfer. Also, I would appreciate a copy of the letter. I intend to make this gift in the 2016 tax year; therefore it is imperative that this gift be postmarked by December 31, 2016.
If you have any questions I may be reached at: ___________________________.
Thank you for your assistance with this transfer.
(IRA Donor Name)
(IRA Account #)
cc: External Relations