Make a Charitable IRA Gift This Year, Free From Federal Income Tax
Now until December 31, friends of UST have a special opportunity to make a donation via an IRA charitable rollover. The Protecting Americans From Tax Hikes (PATH) Act of 2015 was passed by votes of 318 to 109 in the House and 65 to 33 in the Senate. With bipartisan support, the bill makes permanent four tax extenders
that help donors support their favorite charities. President Obama signed the PATH Act on December 18, 2015.
The IRA charitable rollover provides several benefits. It
allows for the transfer of money from an IRA directly to the University of St. Thomas this year. The donor pays no taxes on the transfer, and the gift counts dollar-for-dollar to help educate leaders of faith and character. The contribution will also count toward the required minimum distribution, which will lower the donor’s income and taxes this year.
There is a very small window of opportunity to take advantage of this extension. Time is of the essence! Interested donors should contact Diane Thornton, Assistant Vice President for Principal Gifts & Constituent Relations, at 713-942-5080 or their IRA administrator to see how they can roll over into tax savings and make a difference in the lives of many students.