IRA Charitable Rollover

Posted on November 14, 2017

Year-end giving is important to many people, as well as to the organizations that giving will benefit. There is still time to help your favorite Community Foundation cause with an IRA Charitable Rollover.

What is that, you ask? An IRA charitable rollover is money that individuals who are 70½ or older may transfer from their traditional or Roth IRA directly to eligible nonprofits – all without having to recognize the distribution as income. There is a cap of $100,000 for charitable distributions from individual IRAs each year.

IRA Charitable Rollovers have helped our donors support places like Studio 1219 and the Blue Water River Walk, as well as their hometown by giving to our Marysville Community Fund, which has helped the school’s band, robotics, sports and service programs.

With over 190 funds to choose from, there is something for everyone’s charitable goals.

Who can benefit from gifting out of an IRA?

  • An individual with a high balance in their IRA
  • Someone choosing not to itemize since they have so few deductions
  • A person making large gifts relative to their income

    Eligible donors have until Dec. 31, 2017 to use an IRA Charitable Rollover for this tax year.

    Contact Jackie Hanton at .(JavaScript must be enabled to view this email address) or call 810-984-4761 for assistance facilitating your gift directly from your IRA custodian, such as a bank or brokerage, to the Foundation.

    Since the Community Foundation does not give tax or legal advice, we highly recommend you review your tax situation with your advisor.

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    Confirmed in compliance with National Standards for U.S. Community Foundations

    Community Foundation of St. Clair County
    Community Foundation of St. Clair County 500 Water St.Port Huron, MI 48060 (810) 984-4761 Fax (810) 984-3394

    Community Foundation of St Clair is a 501(c)(3) and all donations are tax deductible. EIN 38-1872132

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