UIS IRA Postcard 2022

UIS circa 1975

THE GIFT OF EDUCATION LASTS A LIFETIME

Special Tax-Saving Opportunity for those 70½ and older

University of Illinois Foundation One University Plaza Springfield, IL 62707-5407

NON PROFIT ORG US POSTAGE PAID PERMIT #75 CHAMPAIGN, IL

Make a Difference Today & Save on Taxes with a gift from your IRA! If you are 70½ or older, you can make a tax-free distribution from your IRA to the University of Illinois Foundation (UIF) for the benefit of the University of Illinois Springfield (UIS). The charitable rollover or qualified charitable distribution (QCD) allows you to donate up to $100,000 each year to a qualifying charity like UIF without incurring income tax on your withdrawal­—reducing your taxable income. Your gift goes to work today providing opportunities at UIS! Please contact us to learn more: Justin Seno, CFP® Director of Gift Planning University of Illinois Foundation p 217.244.8273 e GPInfo@uif.uillinois.edu Learn more about all of our gift planning options at uif.giftplans.org.

1305 W. Green Street, Urbana, IL 61801 | GPinfo@uif.uillinois.edu | 217.244.0473

Here’s how it works: • Must be age 70½ or older at time of your gift.

• Required to go directly from your IRA to the University of Illinois Foundation (Tax ID 37-6006007).

• Not to exceed $100,000 annually per taxpayer • If you are age 72, it can satisfy all or part of your required minimum distribution (RMD).

• Distributions are not subject to federal income tax and may also be excluded from your state income tax.

• May help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.

• No matter your age, you can designate UIF as beneficiary of all or a percentage of your IRA. This material is provided for general information and educational purposes, please consult with your tax and financial advisors regarding your personal situation.