As many of you know, prior to January 1, 2016, if you wanted to provide Gonzaga University with a gift from your IRA funds, you had to either withdraw and pay taxes, or wait until the end of the calendar year to learn if Congress was going to allow a tax-free rollover. We are so happy to announce that Congress has passed permanent legislation to allow for tax-free rollovers. Providing GU a gift from your IRA is easier than ever!
If you are 70 ½ or older, you can directly roll over funds from your IRA to Gonzaga University in the form of a gift. Since most IRAs are taxable when passed on to heirs but not to tax-exempt charities (like Gonzaga), it can make good sense to support your charitable interests by rolling over these funds. Because the funds aren’t taxable, you may even be able to increase the amount or areas you are able to support with your gift.
Talk to your financial advisor or contact the Office of Planned Giving for more information about this new legislation and what it means for your plans to impact the future of Gonzaga University. It starts with you, Gonzaga Will. Call 800-388-0881 or email Judy Rogers at firstname.lastname@example.org today.