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Charitable IRA

See the Benefits Available to You

Individuals 70½ and older are able to transfer up to $100,000 from their individual retirement accounts directly to a qualified charitable organization without being subject to income taxes on the distribution. Make your tax-free gift from your IRA to Beloit today!

Here are the Details:

  • You are age 70½ or older at the time of the gift.
  • You transfer up to $100,000 directly from your IRA. This opportunity applies only to IRAs and not other types of retirement plans.
  • You transfer the funds outright to one or more qualified charities. The legislation does not permit direct transfers to charitable trusts, donor advised funds, charitable gift annuities or supporting organizations.

Contact your tax advisor or our Gift Planning office at 1-800-331-4943 or legacy@beloit.edu for more details about this tax-savings opportunity.