A Passion for Education Helps Write a New Chapter of Opportunity for USD Students
Dolores Juditz is a staunch supporter of education and for providing opportunities to those who may not have the financial resources necessary to attend a nationally prominent academic institution like the University of San Diego. To that end, she has contributed to USD's Bridges Endowed Scholarship Fund, and takes great pride in witnessing the immediate and indelible impacts her donations make in the lives of deserving students.
Dolores was able to make her donation through the IRA charitable rollover legislation, which allows individuals who are 70½ or older to donate up to $100,000 from their IRAs and Roth IRAs to public charities without having to count the distributions as taxable income.
Dolores' own life experiences motivated her to make the charitable contribution. "I know that when my kids went to school, they needed a lot of things, and at the time I really couldn't provide that on my own," she explains. "I'll always be extremely grateful for the support my family received, and I want to ‘pay it forward,' as the kids say these days."
Dolores and other donors have found that making charitable gifts in this manner is very tax-wise. Not only is this gift tax-free*, it also counts towards the annual minimum distribution requirement. For charitable-minded IRA owners, making gifts from their IRA may make more sense than writing a check.
If you are interested in taking advantage of this opportunity to make a positive impact on the University of San Diego, you are encouraged to first notify us of the gift before you make the distribution. We can provide special instructions for your IRA administrator. If you have any further questions about the IRA charitable rollover opportunity, please contact John Phillips at (619) 260-4523.
*Please note that the tax-free status applies only if the charitable distribution check is issued by your IRA plan administrator to the university - not to you.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.
Every contribution to USD is important. Whether great or small, donations like yours build the Torero future.
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