Lehigh University:

The Emergency Economic Stabilization Act of 2008, which was passed and signed into law in early October 2008, includes an extension of what is commonly known as the IRA Charitable Rollover. In brief, the provision allows you to make a gift distribution from your traditional IRA to Lehigh University, tax-free, up to $100,000 through tax year 2009.

Who qualifies and how does this work?

• You must be 70 1/2 years of age or older on the date of the transfer.
• You must transfer the funds directly from the IRA to Lehigh University (direct trustee to charity transfer).
• Total gifts cannot exceed $100,000 per taxpayer per year and must be made by December 31, 2009.
• Gifts must be outright. Transfers to donor-advised funds, private foundations, supporting organizations, charitable remainder trusts, and charitable gift annuities do not qualify.
• Gifts can be used to fulfill an outstanding pledge, make a gift to a capital project, make a donation to the Lehigh Fund, and/or establish an endowed fund.
• This provision is effective until December 31, 2009.

Click below to see sample instruction letters to initiate your gift.

• Sample Request from Plan Owner to IRA Administrator
• Sample Letter from Donor Informing Lehigh of IRA Transfer

Want to know more? Contact the Planned Giving Office for more information.