Individual Retirement Accounts (IRAs)

How can i make a gift from my ira to afhu?

Thank you for your generosity and consideration. To include AFHU in your plans, when contacting your retirement administrator, please use our legal name and federal tax ID. 

Legal name: American Friends of the Hebrew University
Federal tax ID number: 13-1568923

Please also be sure to contact us to let us know of your gift. If you have any questions or would like more information, please contact us at [email protected] or 212.607.8524.

For more information, please click here. 

Main benefits of donating from your ira​

  • Reduce Your Taxable Income: By giving from your IRA, donations are excluded from your taxable income, unlike traditional IRA withdrawals. This can lower your overall tax bill. In addition, even if you take the standard deduction on your tax return, you can still enjoy the tax advantages of donating directly from your IRA.
  • Satisfy Required Minimum Distributions (RMDs): If you are required to take minimum distributions, donations from your IRA can count toward your annual RMD, helping you meet IRS requirements without increasing your taxable income.
  • Make a Direct Impact Today: Once you contact your retirement administrator, funds are transferred directly from your IRA to the nonprofit, ensuring that 100% of your gift goes to support Israel’s premier institute of higher learning and research, the Hebrew University of Jerusalem.
  • Flexibility & Autonomy: You can continue to take regular lifetime withdrawals while maintaining the flexibility to change beneficiaries if your family’s needs change during your lifetime. In addition, your heirs avoid the potential double taxation on the assets left in your retirement account.

A Special Opportunity for Those 70½ Years Old and Older

Did you know the gift of a Qualified Charitable Distribution benefits donors aged 70½ and up?

The Qualified Charitable Distribution is an excellent way to show your support for American Friends of the Hebrew University and receive tax benefits in return. Whether you are planning your required minimum distribution or not, consider making a gift from your traditional IRA to make the most of your charitable giving. You receive a tax benefit even if you take the standard deduction. 

To Qualify:

  • You must be 70½ or older at the time of the gift.
  • Distributions must be made directly from a traditional IRA account by your IRA administrator.
  • Gifts can be outright, meaning they go directly to American Friends of the Hebrew University.
  • Gifts from 401(k), 403(b), SEP, and other plans do not qualify. Ask your financial advisor if it would make sense for you to create a traditional IRA account so you can benefit from an IRA Qualified Charitable Distribution.

Tax Benefits:

  • IRA Qualified Charitable Distributions are excluded from gross income for federal income tax purposes on your IRS Form 1040.
  • The gift counts toward your Required Minimum Distribution (RMD) for the year in which you made the gift.
  • You could avoid a higher tax bracket that might otherwise result from adding an RMD to your income.

It’s important to consider your tax situation before deciding whether to make a charitable contribution from your IRA. Be sure to share this gift plan with your financial advisor.

For more information, please click here. 

If you have any questions, please don’t hesitate to get in touch with us at [email protected].