UIUC IRA Postcard 2022

UIUC circa 1975

Courtesy of the University of Illinois Archives

THE GIFT OF EDUCATION LASTS A LIFETIME

Special Tax-Saving Opportunity for those 70½ and older

University of Illinois Foundation Office of Gift Planning & Trust Services 1305 West Green Street, Room 214 Urbana, IL 61801-2962

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 Urbana-Champaign (UIUC). 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 UIUC! Please contact us to learn more: Gift Planning and Trust Services University of Illinois Foundation Harker Hall, Rm. 214 1305 West Green Street Urbana, IL 61801 p 217.244.0473 e GPinfo@uif.uillinois.edu

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.

Learn more about all of our gift planning options at uif.giftplans.org.

• No matter your age, you can designate UIF as beneficiary of all or a percentage of your IRA.

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

This material is provided for general information and educational purposes, please consult with your tax and financial advisors regarding your personal situation.