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Millikin University - Decatur, IL
Millikin University > Alumni & Friends > Stay Connected > Out of The Blue > Posts > Don't let time run out!

Donors age 70½ or older again may make a charitable distribution to Millikin University via their Individual Retirement Account. On Jan. 2, 2013, the IRA charitable rollover provision was extended retroactively from Jan. 1, 2012, through Dec. 31, 2013.

These special transition rules end Jan. 31, 2013! For more information about giving via your IRA, contact our office.

Take advantage now of these special transition rules for 2012:

  • If you did not make a charitable distribution to Millikin in 2012, you still may do so before Jan. 31, 2013! These special transition rules allow distributions made in January 2013 to be treated as if they were made during 2012. The clock then starts over again for 2013 charitable distributions - up to the maximum $100,000 allowed through Dec. 31, 2013.
  • If you received your IRA required minimum distribution (RMD) during December 2012, you may transfer those funds to Millikin before Jan. 31, 2013, and you will not be required to report the IRA distribution as income! This provision converts the December 2012 RMD to a qualified distribution for 2012.
  • A charitable distribution made directly from your IRA to Millikin anytime in 2012 is now considered qualified - retroactive to Jan. 1, 2012.

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Millikin University - Decatur, IL
Millikin University - Decatur, IL
 
Millikin University - Decatur, IL
Millikin University - Decatur, IL
Millikin University - Decatur, IL
Millikin University - Decatur, IL