Consider an IRA Designation gift to Berkeley

Font Size

-A A +A

2018 is certainly a big year for Berkeley as we celebrate the 150th anniversary of the university’s founding and look forward to its increasingly bright future. As a financially savvy donor, you may have monitored the progress of the recently enacted 2017 Tax bill. While the law has brought changes to the tax landscape, one thing that hasn’t changed is the IRA charitable rollover. You can continue to make gifts to Cal directly from your IRA and avoid recognizing those charitable distributions as income. 

Another tax-wise giving strategy you may consider is naming UC Berkeley as a beneficiary of your IRA. As a charity, UC Berkeley would not be taxed on your IRA gift, but your other heirs would. You could possibly benefit other heirs more effectively using your non-IRA assets to make state gifts to them. 

An example of stalwart Cal supporters are Mel L. and Vera M. Bacharach, who made an IRA beneficiary designation gift to create the Mel L. and Vera M. Bacharach Scholarship Funds. These endowed funds support physically disabled undergraduate and graduate students in the College of Letters and Science and the Haas School of Business. With UC Berkeley as the account beneficiary, no taxes were due on the assets remaining in the IRA. The full value of the account was available to create the endowments that will support Cal students in perpetuity. This visionary gift will help propel the University into its next 150 years. 

As we celebrate the university this year and continue to shine Berkeley’s light into the future, we will be happy to work with you on a beneficiary designation gift. You can carefully manage and enjoy your resources now and direct them to support the university you love in the coming years.

Thank you for your commitment to UC Berkeley and to securing its future. Happy 150!