You can give to Berkeley directly from your IRA without paying income tax, as long as you meet a few tax code requirements.
How it works
- You instruct your IRA custodian to distribute assets directly to the University of California, Berkeley Foundation. Download this Sample Letter of Instruction that can be filled out and sent to your IRA custodian.
- Gifts should be made to University of California, Berkeley Foundation (TAX ID 94-6090626)
Please direct gifts to:
University of California, Berkeley Foundation
Donor and Gift Services
1995 University Ave Ste 400
Berkeley, CA 94704-1070
TAX CODE REQUIREMENTS:
- You must be 70 ½ or older at the time of the distribution.
- QCD distributions cannot exceed $108,000 per year, per individual.
- The distribution must come directly from an IRA custodian.
- You cannot receive any goods or services in return for the gift.
How you benefit
- Your distribution is tax-free.
- You can satisfy all or part of your required minimum distribution.
- You can satisfy outstanding pledges with an IRA distribution.
TAX LAW (SECURE ACT 2.0) EFFECTIVE JANUARY 1, 2023
IRA qualified charitable distributions (QCDs) of up to $54,000 may be used to create a charitable gift annuity or a charitable remainder trust (please click on the relevant link for further information). The election is available only once during an IRA owner’s lifetime. Donors are encouraged to consult with their advisors as there are additional limitations.
