The IRA Charitable Rollover

Traditionally, IRA Charitable Rollovers allow taxpayers age 70 ½ or older to transfer up to $100,000 annually from their IRA accounts directly to the OU Foundation without first having to recognize the distribution as income.

The 2020 CARES (Coronavirus Aid, Relief, and Economic Security) Act provides increased charitable giving tax incentives designed to stimulate philanthropy throughout the nation in a time when it is needed most.

Required minimum distributions (“RMDs”) from IRAs have been eliminated for 2020. As a result, a qualified charitable distribution from an IRA will not reduce an RMD that would otherwise be included in the IRA beneficiary’s income for tax purposes. However, if an IRA beneficiary receives a taxable IRA distribution in 2020, an offsetting charitable deduction will generally be available since the individual income limitations on charitable deductions have been temporarily suspended.

The Foundation is happy to assist you in any way possible as you make your year-end giving plans, including wire transfer instructions or visiting with our assistant controller, Debbie Lea, at (405) 321-1174 or dlea@ou.edu.

This information is provided for general reference purposes only and is not intended to constitute legal or other advice or opinions on any specific matters and is not intended to replace the advice of a qualified attorney or other professional advisor. Federal and state laws change frequently and, as such, there is no guarantee as to the accuracy or completeness of the information featured herein. In accordance with IRS Circular 230, this communication is not intended or written to be used and cannot be used as or considered a 'covered opinion' or other written tax advice and should not be relied upon for any purpose other than its intended purpose.

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University of Oklahoma Foundation Investment Performance

No matter whether the markets are up or down on any given year, the University of Oklahoma Foundation strives to maintain the purchasing power of its endowment.

1 YR Return

7.0% (Benchmark = 6.7%)

3 YR Return

10.3% (Benchmark = 8.9%)

5 YR Return

6.7% (Benchmark = 5.4%)

10 YR Return

9.8% (Benchmark = 8.5%)