IRA Charitable Rollover Gift

IRA Charitable Rollover Gift


While there have been many recent changes to the tax law, the Charitable IRA Rollover provision has remained permanent law. Donors continue to be able to take advantage of this opportunity to support their favorite charities, have the gift(s) count against their required minimum distribution, and not have the amount included in their income. This is especially valuable for donors who do not itemize their tax deductions, as well as high income earners who lose the full value of their itemized deductions.
 
Here’s how it works:
 
1.    You must be 70 ½ or older on the day you make the gift(s).
2.    The funds must be transferred directly from your IRA to the qualified charity.
3.    The gift must be an outright gift. (Life income gifts do not qualify)
4.    The gift can be used to satisfy an existing pledge or be a new gift.
5.    You can make multiple gifts to charities as long as the total amount of gifts do not exceed $100,000. If your spouse has their own IRA, they can give up to $100,000 as well.
 
Tip: While the transfers must be made directly from an IRA, donors may be able to make qualified transfers from their pension or retirement plan–such as a 401(k) or 403 (b) to an existing or newly created IRA, and then make a charitable gift from their IRA account under the above rules.
 
Click here for a sample Letter of Direction to your IRA Plan Administrator to make a qualifying gift to Emma Willard.

Contact us

If you have any questions on how you can make a gift to Emma Willard School from your IRA, please contact Jack Sise, Director of Gift Planning, at jsise@emmawillard.org or by phone at 518-833-1831.

The information presented on these web pages is not offered as legal or tax advice. You are urged to seek the advice of your tax advisor, attorney, and/or financial planner to make certain any gift you are considering fits well in your specific circumstances.


285 Pawling Avenue, Troy, NY 12180 | P: 518.833.1300 F: 518.833.1815
© EMMA WILLARD SCHOOL
Welcome to Emma Willard School, a private day and boarding high school for girls in Troy, NY, and a leader in girls' education for over 200 years.