1. Gift Planning
  2. What’s New
  3. 3 Great Ways to Give From Your IRA

3 Great Ways to Give From Your IRA

A traditional IRA is an appealing way to save for retirement: Make a contribution and enjoy tax savings. But eventually, the tax bill comes due — when you take your annual distributions and again when you leave your assets to heirs. If you want to avoid the tax bite and make an impact on our mission, consider a gift to the University of Nebraska Foundation.

1. Make Your Gift Today

If you’re 70½ or older, you can make a tax-free gift (up to $100,000) to the University of Nebraska Foundation. Benefits include:

  • See the difference you’re making today.
  • Pay no income taxes on the gift. The transfer doesn’t generate taxable income or a tax deduction.

If you are required to take minimum distributions, your gift can satisfy all or part of your obligation.

2. Magnify Your Impact After Your Lifetime

You can name UNF as a beneficiary of your retirement account. This is a great option for extending support from your IRA beyond your lifetime. It costs you nothing today and offers significant advantages:

  • While heirs who receive funds from an IRA must pay federal income taxes on the funds they inherit, and must accept all funds within 10 years, UNF is tax-exempt and will receive the full amount of what you designate.
  • You can name UNF a primary or contingent beneficiary, based on what best fits your situation.
  • You can list a percentage of your IRA or a specific dollar amount as a gift to UNF.
  • Your estate will receive a tax deduction for the charitable contribution, which can be used to offset estate taxes, if your estate is above the federal exemption limit.

Here’s how:

  1. Contact your IRA administrator for a change-of-beneficiary form, or simply download a form from your provider’s website.
  2. Name the University of Nebraska Foundation and the gift percentage on the form.
  3. Let us know about your plans so we can thank you and ensure the gift accomplishes your specific goals on campus.

3. NEW OPTION: Create a Charitable Gift Annuity

If you are 70½ or older, you can now use your IRA to create a gift that pays you. Get fixed, reliable income for life by making a one-time election for a qualified charitable distribution of up to $50,000 (without being taxed on the distribution). Because this option comes with special rules, we’d be happy to discuss whether this gift is right for you.

Whether you make your impact at the University of Nebraska Foundation today or after your lifetime, your gift matters. Contact us by email at gift.planning@nufoundation.org or at 402-458-1100 and ask to speak to a member of the gift planning team. You may also download your free estate planning kit.