The Gift of a Lifetime: Turning Retirement Accounts into Charitable Good

There is good news for community foundation donors in their 70s—and for the communities and causes they care about. The Protecting Americans from Tax Hikes (PATH) act makes it possible to give individual retirement account (IRA) assets to a public charity via a Charitable IRA Rollover (also known as a Qualified Charitable Distribution).

Benefits Include:

  • The gift comes from your IRA, using pre-tax dollars.
  • The gift amount is excluded from your taxable income.
  • The gift amount can be applied towards this year’s minimum distribution requirements.

As such, our donors can give far more with less! This may be an attractive giving option for you if you are over 70½ and now receiving minimum IRA distribution and you are interested in making a significant lifetime gift to support your community right now.

To ensure impact, consider giving your distribution to the California Community Foundation or any of its education, housing, health, immigrant integration or youth empowerment priority impact funds, such as:

You may also consider setting up a scholarship fund.

Here Are the Rules:

  • The distribution must be from a Roth or Traditional IRA.
  • The distribution must be made directly from the IRA administrator to a qualifying charity such as California Community Foundation.
  • Gifts made to a donor-advised fund, supporting organization or private foundation do not qualify.
  • Distributions are limited to $100,000.00 per individual per year.

We want to help you take advantage of this legislation. Please access our personalized service and local expertise to help you address the issues and causes most important to you.

For more information on the Charitable IRA Rollover opportunity, please contact Paul Schulz at (213) 452-6241 or pschulz [@] calfund [.] org.

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