Benefits of an IRA charitable rollover
If you're 70½ or older, an IRA charitable rollover could be a great option for you. Not only does it create inspired opportunities for our students, but it can also reduce your income and tax burden from IRA withdrawals this year.
Valuable tax benefits:
-
Avoid taxes: You can transfer up to $105,000 from your IRA to us without paying income taxes on the amount.
-
Meet Your RMD: The rollover may satisfy your required minimum distribution (RMD) for the year.
-
Reduce Taxable Income: Even if you don’t itemize your deductions, you can still lower your taxable income.
-
No Deduction Limits: Your gift isn't subject to the usual limits on charitable deductions.
-
Support Our Mission: Your contribution directly helps us continue our important work.
How an IRA Charitable Rollover Gift Works
-
Contact Your IRA Administrator
Direct your IRA plan administrator to make a charitable rollover gift to the Minnesota State University, Mankato Foundation.
-
Transfer of Funds
Your IRA funds are transferred directly to us, supporting our mission and important programs.
-
Direct Your Impact
Want your gift to support a specific program or area? Let us know—we're happy to help match your passion with a purpose.
Gifts from Your IRA
If you're 70½ or older, you can use your IRA to support your charitable goals. Use the "Make a Gift from My IRA" tool to contact your IRA custodian and arrange a qualified charitable distribution.
Important Year-End Reminder:
For year-end gifts, the gift date is set when the IRA administrator transfers the funds, not when the check is postmarked or delivered. Keep this in mind to make sure your gift is finished by Dec. 31.