University of Minnesota
University of Minnesota Foundation
Giving to medicine and health at the University of Minnesota

Opportunity knocks for IRA holders

For a limited time, special income tax incentives make charitable giving more appealing than ever for donors who are 701/2 or older. These donors now can make charitable contributions from their individual retirement accounts (IRAs) without adverse tax implications.

The Pension Protection Act of 2006 allows some donors to make charitable contributions using funds from IRAs—without undesirable tax effects.

Under this law, donors may make tax-free contributions of IRA funds to charities such as the Minnesota Medical Foundation (MMF) if:

• They are age 701/2 or older • The total IRA charitable contribution is no more than $100,000 per person • They transfer the funds directly from an IRA to MMF

For more information, contact Kathy Beenen at 612-625-6495 or