IRA Charitable Rollover

You may be looking for a way to make a big difference in your community. If you are 70½ or older you may also be interested in a way to lower the income and taxes from your IRA withdrawals. An IRA charitable rollover is a way you can help your favorite causes and charities benefit this year.
 

Benefits of an IRA charitable rollover

  • Avoid taxes on transfers of up to $100,000 from your IRA to our organization
  • Satisfy your required minimum distribution (RMD) for the year
  • Reduce your taxable income, even if you do not itemize deductions
  • Make a gift that is not subject to the 50% deduction limits on charitable gifts
  • Give back to your favorite charities through a designated fund to support up to 4 charities of your choice. (The IRS does not permit charitable IRA rollovers to donor-advised funds)
     

How an IRA charitable rollover gift works

  1. Contact your IRA plan administrator to make a gift from your IRA to us.
  2. Your IRA funds can be used to open a designated fund to help your favorite causes and charities. A designated fund can provide giving immediately or over time.
  3. Please note that IRA charitable rollover gifts do not qualify for a charitable deduction.
     

Contact us

For information about IRA Charitable Rollovers, please contact Sheila Kinman at (561) 340-4503 or email her at kinman@cfpmbc.org