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IRA Charitable Rollover

Looking for a way to make a big difference to help Madison prepare students to be educated and enlightened citizens? If you are 70½ or older, charitable gifts made to the James Madison University Foundation, Inc. directly from your IRA (up to $100,000 total in 2019) are not reportable as taxable income. They also qualify for your required minimum distribution (RMD) which can lower your income and taxes and support our students today.

Flowchart: Donor directs IRA custodian to make an IRA charitable rollover gift to the James Madison University Foundation, Inc.

Benefits of an IRA charitable rollover

  • Avoid taxes on transfers of up to $100,000 from your IRA to our organization
  • May satisfy your required minimum distribution (RMD) for the year
  • Reduce your taxable income, even if you do not itemize deductions
  • Make a gift that is not subject to the deduction limits on charitable gifts
  • Help further the work and mission of James Madison University
  • Create your legacy at Madison, help an area you are passionate about, and know you will make a difference for future generations

HOW TO MAKE A IRA charitable rollover gift

  1. Contact your IRA plan administrator to make a gift from your IRA to the James Madison University Foundation, Inc.
  2. Your IRA funds will be directly transferred to the Foundation to help support our students today.
  3. Please note that IRA charitable rollover gifts do not qualify for a charitable deduction.
  4. Please contact us if you wish for your gift to be used for a specific fund.

Contact us

If you have any questions about an IRA charitable rollover gift, please contact us. We would be happy to assist you and answer any questions you might have.