IRA Gifts

As we approach year end, recall that anyone age 70 ½ and older may make a direct transfer from an IRA to support OLLI at WVU.  The gift will satisfy a portion of your required minimum distribution (RMD), and the amount is not considered taxable income, as other IRA distributions are, on your federal or West Virginia income tax return. 

Annually, up to $100,000 can be transferred directly to benefit charities (the WVU Foundation in this case) important to you. In addition, it won’t restrict the deduction of other charitable gifts you might make from your non-IRA assets. 

Using IRA funds to support OLLI is a smart way to give.  And the gift will help keep OLLI at WVU strong and vital. 

For questions on arranging IRA gifts to OLLI at WVU, contact Karen Galentine, director of development for the School of Public Health, at 304-293-1828 or kegalentine@hsc.wvu.edu or talk with your financial advisor.