IRA Charitable Rollover Gifts

Here’s a special way to support WWNO if you are age 70 ½ or older.

The IRA Charitable Rollover was permanently extended in the Tax Relief Act of 2015. Now you can make a charitable gift directly from your IRA every year while excluding the amount of that gift from your adjusted gross income (AGI) and, consequently, without paying taxes on it.

Advantages to you:

The IRA Charitable Rollover permits you to make donations directly to charitable organizations such as WWNO from your IRA without counting the distribution as part of your AGI and, consequently, without paying taxes on it.

You don’t recognize the distribution as income for federal income tax purposes. The distribution counts towards your minimum required distribution for the year.

To qualify:

  • You must be 70-1/2 or older and required to make an annual distribution from your IRA.
  • Your total combined charitable IRA rollover contribution cannot exceed $100,000 in any one year.
  • Charitable contributions from an IRA must go directly to a public charity that is not a supporting organization, such as the UNO Foundation, which accepts contributions in support of WWNO. Contributions to donor-advised funds and private foundations, except in narrow circumstances, do not qualify for tax-free IRA rollover contributions.
  • Distributions can only be made from traditional Individual Retirement Accounts or Roth IRAs. Charitable donations from 403(b) plans, 401(k) plans, pension plans, and other retirement plans are ineligible for the tax-free treatment. Distribution must be made directly from the IRA trustee payable to WWNO or the UNO Foundation in support of WWNO.
  • You cannot receive any goods or services in return for your charitable IRA rollover contribution in order to qualify for tax-free treatment.
  • You must receive an acknowledgement from WWNO or the UNO Foundation for each rollover contribution.

We recommend that you seek advice from your accountant prior to making a charitable rollover as personal circumstances can have a significant impact on whether charitable rollovers are advantageous.

To make a gift, we suggest you initially contact your IRA administrator for instructions, as each administrator has company-specific guidelines. However, with all administrators it is essential for you to confirm the check is made out to the charity and not to the individual to avoid undesired tax consequences.

In order to benefit from a 2015-eligible IRA contribution, contact your IRA administrator as soon as possible as some administrators may place a deadline on requesting transfers. 

The Tax ID Number of the UNO Foundation is 72-0702000.

For more information about making a Charitable IRA Rollover contribution to WWNO, contact Ron Biava (rbiava@uno.edu, 504-280-7001.)

For proper handling, acknowledgment and donor credit, IRA distributions being made as a donation to WWNO should be sent to:

Ronald Biava
WWNO, University of New Orleans
2000 Lakeshore Drive
New Orleans LA 70148
504 280 7001 (voice)
504 280 6061 (fax)
rbiava@uno.edu