Planning for your Future

As a friend of Michigan Tech, we can offer you free tools to help you get your affairs in order prior to meeting with an attorney.

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Make a Gift From My IRA

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IRA Charitable Rollover

You may be looking for a way to make a big difference to help further our mission. If you are 70½ or older you may also be interested in a way to lower the income and taxes from your IRA withdrawals. An IRA charitable rollover is a way you can help continue our work and benefit this year.

IRA Charitable Rollover
IRA (Custodian)
Michigan Tech
Charity image

Benefits of an IRA charitable rollover

  • Avoid taxes on transfers of up to $100,000 from your IRA to our organization
  • May satisfy your required minimum distribution (RMD) for the year
  • Reduce your taxable income, even if you do not itemize deductions
  • Make a gift that is not subject to the deduction limits on charitable gifts
  • Help further the work and mission of our organization

How an IRA charitable rollover gift works

  1. Contact your IRA plan administrator to make a gift from your IRA to us.
  2. Your IRA funds will be directly transferred to our organization to help continue our important work.
  3. Please note that IRA charitable rollover gifts do not qualify for a charitable deduction.
  4. Please contact us if you wish for your gift to be used for a specific purpose.

Gifts from your IRA

If you are 70½ or older, you can use your IRA to fulfill your charitable goals. You can use the "Make a Gift From My IRA" tool to contact your IRA custodian and make a qualified charitable distribution. We will acknowledge your generous gifts as a qualified charitable distribution, which may satisfy your RMD, if applicable.

Contact us

If you have any questions about an IRA charitable rollover gift, please contact us. We would be happy to assist you and answer any questions you might have.



When you withdraw money from a qualified retirement plan, it is subject to income tax. This is also true for any beneficiaries or heirs who receive funds after you pass away. There is no way around the tax. You and your beneficiaries can count on it.
 
A retirement plan can be a tax-efficient and simple way to include the Michigan Tech Fund in your estate plan. A bequest of part or all of your IRA allows you to make full use of your funds during your lifetime, after which the charity of your choosing will benefit in the future tax-free from the full value of what remains.

As an alternative to leaving retirement assets to loved ones, consider leaving appreciated stock instead. Your heirs will receive the stock income tax-free and with a basis equal to its value when the stock is received. Income tax is due only when the stock is sold, and only the amount in excess of the stepped-up basis is subject to tax.

Estate Gift to Heirs
Amount Subject to Tax
$50,000 gift of retirement assets
Entire $50,000 is subject to tax when it is withdrawn
$50,000 gift of appreciated stock
Only the increase in value exceeding $50,000 is taxed when stock is sold (no tax due on initial $50,000 gift)
70 1/2 years of age or older? An IRA Rollover Makes Sense!

In 2015, Congress reauthorized the IRA rollover permanently. This means that if you are age 70 1/2 or older, you can make a charitable gift of up to $100,000 from your IRA per year and see the impact of your gift during your lifetime. Your gift will qualify for your required minimum distribution, and you will not have to pay federal income tax on the amount transferred directly from your IRA to charity. Check with your advisor on how an IRA rollover gift could reduce your taxes while helping charities like the Michigan Tech Fund.

Giving Back to Michigan Tech through an IRA
  • Paul Williams '61

    "Turning 70-and-a-half was an eye opener. I didn't want to deal with tax implications. I have nothing against taxes, but I wanted to put my money to work", Paul Williams '61 says.

    Paul gives to the Paul and Susan Williams Center for Computer Systems Research and the Paul and Susan Williams Endowed Scholarship.

  • Kenneth Larm '50

    "I want to give back to Michigan Tech which gave me a start in life's great journey," says Kenneth Larm '50. "And, I like helping fund new areas of research and development and programs for future students."

    Ken gives through his IRA and other means to the Biomedical Engineering and Civil and Environmental Engineering Department.

  • Bob '65 and Wallis Sloat

    "Michigan Tech was a tipping point in my education," says Bob Sloat '65. "There is a special place in our giving plans for Michigan Tech. Taking advantage of charitable rollovers is a good tax strategy and also helps Michigan Tech."

    Bob and Wallis give to a Chaired Junior Professorship in the Chemical Engineering Department.

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