The IRA Charitable Rollover is Permanent

You can support the U. S. Naval Academy Foundation’s mission by making a gift of IRA assets.

The charitable IRA rollover provision of the Taxpayer Relief Act of 2012 (ATRA) was made permanent by Congress in 2015. This provision allows you to transfer any amount, up to $100,000, from your traditional IRA directly to the Naval Academy Foundation (a qualified charity under the Act). This is a tax-advantaged way to make a gift in support of the Annual Fund, Athletic Excellence, class projects and other Academy priorities.

The distribution is tax-free and counts toward your required minimum distribution.

To qualify, you must:
• Be 70½ or older
• Instruct your IRA administrator to transfer your selected dollar amount (up to $100,000) directly to U.S. Naval Academy Foundation, attn: Keisha Watkins, 291 Wood Road, Annapolis, MD 21402. Download the IRA Rollover Letter of Instruction provided by USNAF here.
• Make the gift by 31 December 2017, to qualify as a tax-free charitable IRA rollover for 2017

Transfers to charitable gift annuities or to charitable remainder unitrusts do not qualify.

Please let Keisha Watkins know when you are making an IRA rollover gift so we can properly credit your gift

For more information, please contact:

Keisha Watkins or Patti Bender
U.S. Naval Academy Foundation
291 Wood Road, Beach Hall
Annapolis, MD 21402
Phone 410-295-4186
Fax 410-295-4109
plannedgiving@usna.com 

This message neither provides nor substitutes for professional tax or legal advice. The U.S. Naval Academy Foundation encourages each donor to consult a personal tax advisor or attorney about your specific situation regarding federal, state and local income tax matters.

Another Source: IndependentSector.org

Office of Planned Giving

If you would like to learn more about giving options visit usna.com/plannedgiving.

 

© 2018 United States Naval Academy Alumni Association & Foundation 410-295-4000