Gift and Estate Planning
Making IRA Transfers to UT Austin a Win-Win
Retirement is a time to take stock of the legacy you will leave. One way to ensure that what you've built over your lifetime lives on is by supporting a place that makes a difference every day - The University of Texas at Austin. And one of the easiest ways to do that is with an IRA charitable gift.
If you are 70½ or older, you are required to distribute funds annually from your Individual Retirement Account (IRA). This mandatory distribution often creates a tax burden. But federal law* allows you to make direct, annual transfers of up to $100,000 from an IRA to charity without treating the distribution as taxable income. These "charitable transfers" can significantly lower your taxable income, and a direct transfer to UT Austin from your IRA counts toward your minimum required distribution.
An IRA charitable gift can benefit retirees, who often have paid off their mortgages and don't file itemized returns. The gift may help to neutralize the negative tax consequences of a minimum required distribution.
How important are IRA charitable gifts to UT? To date, alumni and friends have provided more than $17 million from their IRAs to support faculty and students working together to solve society's biggest challenges. These gifts have transformed UT Austin, and you can designate your IRA gift to the UT people and programs you care about most. Give to a good cause and gain an income tax advantage.
*Established under the Pension Protection Act
David Justice: Serving Humanity by Advancing UT’s Energy Institute
- Contact the Gift and Estate Planning Team at 512-475-9632, toll-free: 800-687-4602, or firstname.lastname@example.org to discuss the possibility of making an IRA charitable transfer.
- Seek the advice of your financial or legal advisor to make sure this gift fits your goals.
- If you include the university in your plans, please use our legal name and Federal Tax ID:
Legal Name: Board of Regents of The University of Texas System for the benefit of The University of Texas at Austin
Address: P.O. Box 7458 Austin, TX 78713
Federal Tax I.D. No: 30-0710145
To qualify for the IRA charitable transfer, the gift:
- Must come directly from your IRA administrator
- Should be made payable to The University of Texas at Austin. Click here for printable instructions.
- Should be mailed to:
University Development Office
Gift and Estate Planning Team
P.O. Box 7458
Austin, TX 78713-7458
IRS Circular 230 Notice: The University of Texas at Austin does not provide legal, tax, or financial advice. Consequently, we urge you to seek the advice of your own legal, tax, or financial professionals in connection with gift and planning matters. This information is not intended to be used and cannot be used for the purpose of avoiding tax-related penalties.