- IRA Gift Information
- The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 signed into law on December 17, 2010, has renewed an opportunity to support the mission of Valparaiso University through your qualified retirement plan. Between now and the end of the year, you have the opportunity to use your IRA assets to impact the future of Valpo.
Through a direct rollover to Valpo from your IRA, you may satisfy a pledge, create a new scholarship or other endowed fund, or support a university project. If you are age 70 ½ or older before Dec 31, 2011, you may directly gift up to $100,000 from your IRA account. By gifting this rollover directly to Valpo, you avoid declaring the distribution as income. If you are under the age of 70 ½, you may direct IRA assets to Valpo in the same manner, but will have to pay tax on the distribution first, before taking an offsetting charitable deduction.
To enjoy the benefit of this opportunity this year, you must complete the transfer prior to Dec 31. If you have any questions, or would like more information about how to support Valparaiso University under this provision, please contact us at (800) 803-7184, ext. 76 or by e-mail at betty.bragg@valpo.edu.