Making a Donation from your IRA

Michigan Radio listeners may choose to include the station in their charitable estate plans by making donations directly from an IRA under the Pension Protection Act of 2006 which was permanently extended through Protecting Americans from Tax Hikes Act of 2015. This legislation allows individual donors age 70 ½ and older to make lifetime gifts to qualified public charities using funds from IRAs without incurring tax effects traditionally associated with lifetime donations from such accounts.

Under the current legislation, you may contribute funds this way if:

  • You are 70 ½ or older
  • Your gifts total a maximum of $100,000 (A qualifying spouse may also make a gift up to $100,000)
  • You complete the gifts on or before December 31, 2017
  • You transfer funds directly from an IRA to a qualified public charity

Michigan Radio is licensed to the Regents of the University of Michigan, which holds a nonprofit, 501(c)(3) status on behalf of Michigan Radio.  For your reference, the Federal Tax Identification number for the Regents of the University of Michigan is 38-6006309.

To make a gift, we suggest you initially contact your IRA administrator for instructions, as each administrator has company-specific guidelines. However, with all administrators it is essential for you to confirm the check is made out to the charity and not to the individual to avoid undesired tax consequences.

To understand the full implications and benefits of such a gift, we encourage you to contact your tax or financial advisor to discuss your particular situation.  Sample Letter to IRA Administrator.

For proper handling, acknowledgment and donor credit, IRA distributions being made as a donation to Michigan Radio should be sent to:

CHECK
Mail to:
University of Michigan
IRA Gift Processing (Gift and Records)
3003 S. State Street, Suite 8000
Ann Arbor, Michigan 48109-1288
Fax: (734) 647-6120
Email: giving2@umich.edu

WIRE TRANSFER 
Beneficiary Bank: The Bank of New York (BNY Mellon)
Account Name: University of Michigan
ABA/Fedwire Routing #: 021000018
Account #: 9730478400
Reference: Name of Donor
Bank Address:
135 Santilli Highway
Everett, MA 02149

 

Please indicate that this information should be shared with:
Larry Jonas
Director of Development
Michigan Radio
535 W. William Street, Suite 110
Ann Arbor, Michigan 48103
(734) 763-3416
ljonas@umich.edu