IRA Charitable Rollover

The IRA Charitable Rollover provision allows individuals who have reached age 70½ to donate up to $100,000 to La Salle University directly from their Individual Retirement Account (IRA) without treating the distribution as taxable income.

This is good news for our alumni and friends who want to make charitable gifts from their retirement assets this year and throughout their lifetime.

To qualify:

  • You must be age 70 ½ or older at the time of the gift.
  • Transfers must be made directly from a traditional or Roth IRA account (contact your plan provider for instructions). Gifts from 401(k), 403(b), SEP, and other plans do not qualify.
  • Gifts must be outright. Gifts to life-income arrangements, such as charitable remainder trusts and gift annuities, do not qualify.

Benefits-Qualified Charitable Distributions:

  • Can be excluded from your gross income for federal income tax purposes. However, no charitable deduction is available.
  • Can be used to satisfy your Minimum Required Distribution (MRD).
  • Are not subject to the 50% deductibility ceiling or the 2% rule.

Your Next Step:

  • Please request the appropriate forms from your IRA custodian to make a direct transfer.
  • The tax identification number for La Salle University is 23-1352654.
  • Contact Richard Van Fossen Jr., ’88, Assistant Vice President for Development, at 215.951.1875 or with any questions.

Mail the check to:

La Salle University
1900 W. Olney Ave. Box 809
Philadelphia, PA 19141

Disclaimer: The information on this website is not intended to be legal or tax advice. Please consult your professional advisor on how any gift may affect your tax situation.