The Advantages of an IRA Charitable Rollover
Congress extended the law allowing an IRA Charitable Rollover until the end of 2013. This is a popular way to give for donors who have reached age 70½ and must take a required minimum distribution (RMD) from their IRA. It is easy to dojust tell the IRA administrator to send us your gift (any amount up to $100,000), and let us know to expect it.
There are certain advantages that donors appreciate when choosing the IRA Charitable Rollover as a gift option. First and foremost, your gift makes an immediate impact on our work. In addition, the amount you direct through an IRA Charitable Rollover is excluded from your income for federal tax purposes, yet it counts toward fulfilling your annual required minimum distribution (the amount you have to take out of your IRA every year). Although you cannot deduct the amount sent to charity, you do not pay federal income tax on the amount directed to us.
Remember, under current law the IRA Charitable Rollover is in effect only until the end of the year. Please Contact us for more information about how the IRA Charitable Rollover might match your idea of how to make a meaningful gift.