IRA Charitable Rollover

IRA Charitable Rollover Extended for 2013

We have great news if you're at least age 70½.  You can again use your IRA distribution to make a gift and count it for the 2012 tax year if you act by Jan. 31, 2013.  If you miss the deadline, you can still make your gift with your IRA distribution, and count it for the 2013 tax year.

Congress afforded philanthropists and nonprofits this rare opportunity when it extended the IRA Charitable Rollover for 2012 and 2013 by passing The American Taxpayer Relief Act of 2012.  Its special rules and provisions provide two ways you can take advantage of these tax benefits: 

  • If you received an IRA distribution in December 2012, you can convert that taxable income into a tax-deductible donation by making a cash gift by the January 31 deadline.  The IRS will treat your gift as if you made a direct IRA charitable rollover and so you’ll avoid tax on the amount of your gift.  Or,
  • You can make your gift with a qualified charitable IRA distribution in January 2013.  The IRS will treatthe gift as if you made it in 2012.  
     

Also, if you made a charitable distribution directly from your IRA in 2012, you’re in luck.  The IRS will treat that gift as a qualified charitable distribution. 

We always recommend that you consult your tax and estate-planning advisor when making a gift with appreciated assets and other holdings. 

Please also allow us to be of assistance.  If you have questions, email Tom Foley at tfoley1@nl.edu.  You can also call him at (312) 261-3958 or toll-free at (888) 658-8632.

Locations

  • CHICAGO DOWNTOWN CAMPUS

    NLU’s Chicago campus on South Michigan Avenue occupies five floors of the historic Peoples Gas Building. This landmark building, across the street from the Art Institute of Chicago and Grant Park, is easily accessible by train, bus and car and is surrounded by restaurants, parking lots/garages and shops.

    122 S. Michigan Avenue
    Chicago, IL 60603
    800.443.5522

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  • ELGIN

    Conveniently located in a fast-growing business district off I-90 and Route 31, NLU Elgin features 10 classrooms with high-tech media equipment; a computer lab with high-speed Internet access; two conference rooms; and comfortable student lounges. Parking is free at this recently remodeled and upgraded teaching site, which now includes wireless Internet access.

    620 Tollgate Road
    Elgin, IL 60123
    800.443.5522

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  • NORTH SHORE

    Opened in the summer of 2006, NLU North Shore at Skokie is a state-of-the-art modern campus located just off the Edens Expressway near the Old Orchard Shopping Center. The campus includes 44 wireless classrooms equipped with high-tech media equipment; four computer labs with high-speed Internet access, including a walk-in lab in the library; six conference rooms; a public café for beverages and snacks; a student welcome center; a library for research and study; and multiple, comfortable student lounge areas.

    5202 Old Orchard Road
    Skokie, IL 60077
    800.443.5522

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  • LISLE

    Located just minutes from the East-West Tollway (I-88), NLU Lisle features 42 wireless classrooms equipped with high-tech media equipment; four computer labs with high-speed Internet access, including a separate walk-in lab in the library; a café for beverages and snacks; a student welcome center; a library for research and study; conference rooms; and six comfortable student lounge areas with wireless access.

    850 Warrenville Road
    Lisle, IL 60532
    800.443.5522

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  • WHEELING

    Located in one of Chicago's major northwest suburbs, the newly renovated NLU Wheeling includes 20 classrooms with high-tech media equipment, four conference rooms, four computer labs with high-speed Internet access, large student lounge areas with wireless capabilities and interactive video capabilities, and an extensive research library. The site also houses the university library research collection.

    1000 Capitol Drive
    Wheeling, IL 60090
    800.443.5522

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  • FLORIDA (TAMPA)

    Established in 1988 and located in one of the city's major business districts, NLU's Tampa campus serves students in 13 counties in central Florida. In addition to six classrooms, the campus features a conference room, a computer lab with high-speed Internet access, an extensive research library and comfortable student lounges.

    4950 West Kennedy Blvd. #300
    Tampa, FL 33609
    800.366.6581 | www.nl.edu/florida

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  • WISCONSIN

    NLU's Milwaukee campus has a proud history of serving graduate students in education in southeastern Wisconsin. Nearly one in five certified Wisconsin teachers looks to NLU for graduate education programs – more than any other university in the state. In addition to classrooms with high-tech media equipment, the campus offers a state-of-the-art computer lab with wireless Internet access and an extensive IDS research library.

    12000 West Park Place, Suite 100
    Milwaukee, WI 53224-3007
    414.577.2658

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