Gifts of Stock and IRA Rollovers

Making a Stock Gift

If you wish to make a stock gift to Ursuline College, stocks may be transferred to Ursuline College's account at Fidelity Investments:

ATTN: Sarah O’Connor, Clearstead Advisors
Telephone Number: 216-621-1090 x141
Broker Name:  Fidelity Investments
Deliver to DTC Number: 0226
For credit to Account Number: 636-106440
Account Name: Ursuline College

Kindly inform the College of any stocks you transfer by contacting Development Database Coordinator Sheila Elo, at 440.646.8356 or selo@nagel-iberia.com or writing to:

Sheila Elo
Ursuline College
2550 Lander Road
Pepper Pike, Ohio, 44124

For further information, please contact Ms. Elo, at 440.646.8356 or selo@nagel-iberia.com. We appreciate your support.

IRA Charitable Rollover

The IRA Charitable Rollover allows individuals age 70 ½ and over to donate up to $100,000 in individual retirement account (IRA) assets to Ursuline College. The Charitable IRA Rollover is tax-free and not included in a donor’s adjusted gross income.

How does this work?

Individuals may make gifts to charity from traditional and Roth IRA accounts without any federal tax liability as long as the gifts are “qualified charitable distributions." No charitable deduction may be taken by the owner, but distributions will qualify for all or part of an IRA owner’s Required Minimum Distribution.

Requirements for “qualified charitable distributions”

• Gifts are tax-free up to $100,000 per year
• Gifts will qualify for all or part of your Required Minimum Distribution
• IRA holder must be age 70 ½ or older at the time of the gift
• Gifts must be outright gifts to a charitable organization
• Distributions may only be made from traditional IRAs or Roth IRAs

Who benefits from this provision?

• People who normally do not itemize their deductions can avoid taking the IRA distribution as income and send it directly to charity. This may reduce both their federal and state income tax liability.
• Individuals whose IRA distributions increase their income to a level where 85% of their social security is taxed may want to make a qualified charitable distribution to reduce their income.
• Individuals in high income brackets who have large IRAs may have substantial income tax savings not otherwise available because of charitable deduction limitations. A qualified charitable distribution of up to $100,000 may have the three-fold benefit of reducing their taxable income, reducing the value in their IRA, and meeting their Required Minimum Distribution.

This is an excellent opportunity for individuals to fulfill their charitable goals. Transfers from IRAs can fund Ursuline College’s Annual Fund, Scholarship Funds, and the Endowment.

To transfer a gift from your IRA, please contact your IRA administrator directly. Ursuline College's Tax Identification Number is 34-0714777.

For more information on how you may benefit Ursuline College through an IRA Charitable Rollover gift, please contact Kathleen Wildman at 440.646.6022 or kwildman@nagel-iberia.com.

This information is for educational purposes and is not professional tax or legal advice. Consult a financial professional or tax advisor about your specific situation.