IRA Charitable Rollover Gifts

IRA Charitable Rollover Gifts

A Tax-Wise Way to Support Jewish Life at Princeton

For more than 70 years, Princeton Hillel and the Center for Jewish Life (CJL) have played a leading role in helping Jewish students on campus find personally meaningful ways to explore their Jewish identities and to develop in future Jewish leaders.

Now, you can help ensure that Jewish students at Princeton continue to benefit from being part of our vibrant Jewish community on campus while realizing some year-end tax benefits.*

Legislation enacted in December 2015 permanently authorized charitable gifts from Individual Retirement Accounts (IRA). Individuals, age 70½ and older, may direct up to $100,000 for “qualified charitable distributions” from an IRA annually. The distribution will count toward an individual’s Required Minimum Distribution (RMD).

Princeton University is eligible to receive IRA rollover gifts, and these distributions to the University can be earmarked for the CJL.  Your gift will provide direct support for our diverse, nationally-recognized programs that engage more than 70% of Jewish students at Princeton.

PARTICIPATION REQUIREMENTS

  • The IRA’s owner must be at least age 70½.
  • The distribution must be made from an IRA (other retirement accounts are not eligible).
  • The recipient must be an eligible charitable organization.
  • The distribution must be made directly to the charity by December 31. (See below.)
  • The distribution must otherwise be fully deductible as a charitable contribution.
  • The distribution must otherwise be included in gross income.

DEADLINE FOR DISTRIBUTIONS- DECEMBER 31st

Distributions by wire transfer must be received in Princeton’s account by December 31st. Distributions by check must have a postmark (on the envelope) no later than December 31st of the same tax year. Because of the high volume of year-end gifts, contact your IRA administrator as soon as possible to allow enough time for them to issue your gift before the end of December.


Sample transfer instructions by check or wire transfer may be found here.

Visit the University website for more details on how to direct an IRA rollover gift.

* Please consult your own legal or tax advisor for details on participation and tax implications.