The Protecting Americans from Tax Hikes (PATH) Act of 2015, which was passed by congress and signed into law by the president on December 18, 2015, made permanent what is popularly known as the IRA Charitable Rollover.

By CHECK
Instruct your IRA administrator to make a check payable to Ave Maria University and mail to:

Ave Maria University
Office of Advancement
5050 Ave Maria Boulevard
Ave Maria, Florida 34142-9505.

The University’s Tax-Exempt ID number is 03-0482006.

Please make sure that your administrator encloses a letter along with your check stating: your name; the purpose of your gift (e.g. Mission Society); and notes that it is a qualified charitable distribution from your IRA. This information can also be stated in the memo line of your check.

By WIRE TRANSFER
Please contact:

Rebecca Alves
Program Manager - Donor Relations
e: rebecca.alves@avemaria.edu
p: (239) 280-2574

Gift Eligibility

  • If you are at age 70½ or older, and are the owner of a Traditional IRA (or inherited Traditional IRA), and do not need all or part of your required minimum distribution, you can make tax-free IRA contributions directly to qualified public charities, such as Ave Maria University.

  • Each age-eligible IRA owner can transfer up to $100,000 tax-free per tax year.

  • Your IRA gift must be made directly to the charity and completed on or before December 31 of the calendar year in which you choose to utilize the IRA Charitable Rollover for tax purposes. If sent by US mail, the postmark determines the date of a charitable gift; if sent via wire, the date of a charitable gift is determined by the date the funds reach the Ave Maria University account.

  • The check must be made payable directly to Ave Maria University.

Advantages

  • You can count your gift towards your annual required minimum distribution.

  • Your distribution is not recognized as income on your federal income tax return, and therefore not eligible for a federal income tax charitable deduction.

  • Under current federal tax laws, keeping your IRA distribution out of your adjusted gross income may save you taxes.

  • The IRA charitable rollover can satisfy a pledge without violating rules against self-dealing.

  • The transfer process is quick and requires minimal paperwork.

Cautions

  • Employer-sponsored retirement plans, such as SEP IRAs, SIMPLE IRAs, 401(k)s, and 403(b)s are generally not eligible for the IRA Charitable Rollover.

  • While the IRS permits IRA Charitable Rollover gifts from Roth IRAs, using a Roth IRA eliminates many of the tax advantages of the charitable distribution – if you don’t have a traditional IRA, it may be better to withdraw funds directly from your Roth account, make a gift and take a charitable deduction. Consult your financial or tax adviser for advice.

  • Most (but not all) states exclude IRA Charitable Rollover gifts from income for state and local tax purposes.

  • The gift must be outright, and no material benefits can be received in return for the gift. A transfer to a gift annuity, charitable remainder trust, or pooled income fund is not permitted.

For information related to our stock transfer agent, contact:
Patrick O’Connell
Director of Principal Gifts
e: patrick.oconnell@avemaria.edu
p: (239) 280-2461

Contact your tax counsel for tax related information.