IRA Charitable Rollover
One of the best ways to make a difference for the Jewish community is through your IRA. If you are 70½ or older you may be able to lower your taxable income with a gift from your IRA directly to the JUF.
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 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.
- Please contact us if you wish for your gift to be used for a specific purpose.
Implications for other charitable giving
- You may not take advantage of the IRA charitable rollover for gifts to a donor advised fund, supporting foundation, split interest trust or charitable gift annuity
- If you wish to make a gift to any of these vehicles using funds from an IRA, the distribution must be recognized as income and then you may take a charitable deduction for the gift to the public charity.
- We recommend consulting with your financial advisor or accountant to determine the best course of action for your personal situation.
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.
To Start the Process: click here.