Linus Pauling Institute
Micronutrient Research for Optimum Health

Research Newsletter-Fall/Winter 2011

DEVELOPMENTS Michele Erickson LPI Director of Development

DON’T MISS this last chance opportunity to make a tax-free gift to the Linus Pauling Institute from your IRA!

Donors who are 70 1/2 or older can donate up to $100,000 per year from their IRA directly to a charity without paying income tax on the money. This is a significant incentive that removes the tax penalty for some donors who want to use their IRAs to fund a charitable gift. The IRA Charitable Rollover Legislation is only valid through December 2011.

• Gifts can only be made from an IRA. Pension, 401k, profit sharing and other forms of retirement funds do not fall under this legislation. However, donors can roll over non-qualifying accounts (e.g., 401k) into the qualifying IRA account in order to make a gift.
• Gifts can be made to multiple charities in any combination that does not exceed the $100,000 per year per person limit.
• Gifts from your IRA can fulfill your annual required minimum distribution in part or in full.
• Gifts can only be made directly to public charities to be eligible for tax benefits. A gift cannot be made to a charitable remainder trust or charitable gift annuity.

The Next Step

Contact both your IRA administrator and your tax professional if you are considering a gift under this law. Feel free to call the OSU Foundation Gift Planning Office at 1-800-336-8217 or OSUFGiving@oregonstate.edu with any questions.

Last updated November 2011