Make a Gift Tax-free with an IRA
In addition to simply listing WUTC as a beneficiary of an IRA, individuals 70 ½ and older can give any amount (up to a maximum of $100,000) per year from their IRA directly to a qualified charity such as WUTC without having to pay income taxes on the money, otherwise known as an IRA charitable rollover or QCD. Additionally, once you turn 73, you can use your gift to satisfy all or part of your required minimum distribution (RMD) with no income taxes on the gift.
How to Make a Gift:
1. Contact the Office of Advancement at 423-425-4232 or advancementservices@utc.edu to discuss using your IRA to support WUTC and our mission.
2. Seek the advice of your financial or legal adviser.
3. To include WUTC in your plans, please use the legal name and federal tax ID. Please let them know that you would like your gift to support WUTC (many retirement providers assume no responsibility for letting nonprofits know of your intentions, so your goals won’t be honored).
Legal Name: UC Foundation, Inc.
Legal Address: 615 McCallie Avenue, Dept. 6808, Chattanooga, TN 37403
Federal tax ID number: 62-0476521
Want more information about giving through your IRA? Check out our Giving Through an IRA resource or contact Ryan Jones at ryan-jones04@utc.edu or 423-425-4773.
