Gift from IRA
If you are 70½ or older, you can transfer any amount up to $100,000 annually directly from your IRA. The transfer doesn’t generate taxable income or a tax deduction, so you benefit even if you do not itemize your tax deductions.
Please fill in the information below and Alison Ferrell will contact you.
IITM foundation fee disclosures
IITM Foundation Board has approved the establishment of a Fee for all Project Funding Remittances to IITM effective February 2017.
This Fee is on a sliding scale starting at 5% and stepped down by 1% steps as shown in the table below, with a cap for funds above $2Million.
IIT Madras has committed to make up this fee, when the Funds are received and prior to deployment.
- $0 to $250K — 5% fee (range $0 to $12.5K)
- $250K to $500K — 4% fee (range $12.5K to $20K)
- $500K to $1M — 3% fee (range $20K to $30K)
- $1M to $2M — 2% fee (range $30K to $40K)
- More than $2M — 2% (capped at $40K)