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IRA Charitable Rollover

You may be looking for a way to make a big difference to help further the St. Thomas mission. If you are 70½, or older you may also be interested in a way to lower the income and taxes from your IRA withdrawals. An IRA charitable rollover is a way you can help St. Thomas and benefit yourself this year.

IRA Charitable Rollover
IRA (Custodian)
St. Thomas
Charity image

Benefits of an IRA charitable rollover

  • Avoid taxes on transfers of up to $100,000 from your IRA to St. Thomas.
  • Satisfy your required minimum distribution (RMD) for the year.
  • Reduce your taxable income, even if you do not itemize deductions.
  • Make a gift that is not subject to the deduction limits on charitable gifts.
  • Help further the work and mission of the University of St. Thomas.

How to make an IRA charitable rollover gift

  1. Contact your IRA plan administrator and request that a "qualified charitable distribution" be made from your account to "University of St. Thomas." Please give your administrator our tax ID and address:

    University of St. Thomas
    PO Box 64947
    St. Paul, MN 55164-0947
    ID #41-0693970

    Your IRA funds will be directly transferred to the university.

  1. Notify the University of St. Thomas by calling Jennifer Bennett at (651) 962-6944 so that we can anticipate the contribution and ensure proper handling. You can also let us know if you wish for your gift to be used for a specific purpose.
  1. Save your documentation. You will receive an acknowledgement letter from the University of St. Thomas that you can use to substantiate your contribution as a qualified charitable distribution and show that your contribution qualifies as a tax-free distribution from your IRA.

Please note that IRA charitable-rollover gifts do not qualify for a charitable deduction. However, the withdrawal from your IRA to St. Thomas will be tax-free because it is not included in your adjusted gross income.

Contact us

If you have any questions about an IRA charitable-rollover gift, please contact us. We would be happy to assist you.

Printable IRA gift instructions
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