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.
Sample Request From Plan Owner to Administrator for Charitable Distribution From IRA:
(Address of Plan Administrator)
RE: Request for Charitable Distribution from IRA
Dear Sir or Madam:
Please accept this letter as my request to make a direct charitable distribution from my IRA as provided by the American Taxpayer Relief Act of 2012 (ATRA). Please issue a check in the amount of $__________ payable to Brenau University at the address below:
c/o Dr. Robert C. Shippey
500 Washington Street SE
Gainesville, GA 30501
In your transmittal to the charity, please memorialize my name and address as the donor of record in connection with this transfer. This gift should be designated to Brenau University to support funding for ongoing activities of the University as determined by the Trustees or for the purpose of ______________________. Please copy me on your transmittal.
It is my intention to have this transfer qualify for exclusion during the 2013 tax year. Therefore, it is imperative this distribution be postmarked no later than December 31, 2013.
(state, zip code)