If you are at least 70 ½ years old, you are eligible to make a uniquely tax-advantaged gift to Duke University Libraries by rolling over funds from your individual retirement account (“IRA”). In December 2010, President Obama signed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 which reinstated the charitable IRA rollover through 2011.
When you use this giving method, you can transfer up to $100,000 each year from your IRA to qualified charitable organizations, like Duke University Libraries, without increasing your gross income for the year and without ever paying taxes on the money. To maintain these benefits, it is important that the funds from your IRA be directly transferred to Duke (rather than withdrawn and subsequently given to Duke). It is a simple, stream-lined way to make your gift.
To learn more about this giving option, read the Charitable IRA Rollover Extension. You may wish to use this letter as a guide when you contact your IRA administrator.
If you have questions about transferring funds to Duke University Libraries from your IRA, contact the Office of Gift Planning by dialing (919) 681-0467, emailing email@example.com, or mailing the Office of Gift Planning, 614 West Main Street, Durham, NC 27708.
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