IRA Charitable Rollover
You may be looking for a way to make a big difference to help further our mission. If you are 70½ or older, an IRA charitable rollover is a way you can help continue our work and benefit this year.
Benefits of an IRA charitable rollover
- Avoid federal and state income taxes and possibly additional taxes on social security payments on transfers of up to $105,000 from your IRA to UNE
- Make a gift that is not subject to the deduction limits on charitable gifts
- Help further the work and mission of our organization
How an IRA charitable rollover gift works
- Contact your IRA plan administrator to make a gift from your IRA to us.
- Your IRA funds will be directly transferred to our organization to help continue our important work.
- Please note that IRA charitable rollover gifts do not qualify for a charitable deduction, but the distribution also doesn't qualify as income for your household.
- A Qualified Charitable Distribution can count as your Required Minimum Distribution if you need to take one.
- Please contact us if you wish for your gift to be used for a specific purpose.
In December, Congress passed the SECURE Act, limiting stretch payments to IRA beneficiaries to 10 years. If you planned to benefit your children with your IRA, your heirs will now pay higher taxes on the inheritance they receive from you. When you revisit your estate plan, consider funding a testamentary charitable remainder unitrust with your IRA balance. This plan can provide lifetime payments to your heirs and spread out the taxes on their inheritance.
If you have any questions about an IRA charitable rollover gift, please contact us. We would be happy to assist you and answer any questions you might have.