Make a Charitable Rollover IRA Gift
Center for Courage & Renewal supporters can plan to get a tax break – while supporting more Courage & Renewal – with an IRA Rollover gift. With a charitable IRA Rollover gift, you get many benefits.
- Use a portion of your Required Minimum Distribution to make a year-end gift to Center for Courage & Renewal and you don’t pay income taxes on the amount you donate.
- Receive a quick and easy estate tax reduction.
- Fulfill part or all of your required minimum distribution for this year.
- Reduce assets in your IRA account, up to a total of $100,000 each year or $200,000 for married couples. For example:
- Jane Brown wants to make a gift to Center for Courage & Renewal.
- Now 71 years old, Jane must take a required minimum distribution from her IRA, which she would have to claim as income.
- Jane doesn’t need the additional income, so instead, she uses a portion of her Required Minimum Distribution to make a year-end gift directly to Center for Courage & Renewal and avoids paying income taxes on the donated amount.
- To qualify:
- You must be 70 ½ years old or older when you make the transfer to the Center for Courage & Renewal.
- The donation portion of your Required Minimum Distribution must be transferred directly from your IRA to the Center for Courage & Renewal.
- The gift cannot exceed $100,000 in 2017 for an individual or $200,000 for a married couple.
- Your transfer must be executed by December 31.
For assistance in making a Charitable IRA Rollover gift, please contact Jade Goldschmidt at (206) 466-2055. We would greatly appreciate being informed of your generosity so that we can be prepared to provide a proper and timely IRS acknowledgment.