Great news! On December 18th, the President signed congressional legislation which permanently extends the IRA Charitable Rollover. This provision enables IRA owners ages 70½ and older to provide significant support to a qualified charitable organization while reducing their taxable income.
A total of up to $100,000 can be transferred directly from traditional or Roth IRAs to one or more qualified charities such as Broadview, free from federal income tax each year as the donation amount is not included in the IRA owner’s income. There may also be state income tax savings. Gifts given in this way count toward required IRA minimum withdrawal amounts for the year of the gift.
To make such gifts, it is important to not withdraw funds prior to a gift, but have the gift amount distributed directly from an IRA to one or more qualified charities. For those with check writing privileges on their accounts, this may be the most efficient way to make gifts directly from an IRA. We have also prepared a letter you can complete and send to your IRA administrator to make a gift to Broadview. To download the letter, click here.
If you don’t meet the guidelines for an IRA charitable rollover donation and would still like to support Broadview, please consider a gift of benevolence or to our general fund, which can be made by visiting our donation page.
Thank you in advance for your consideration of these wonderful gifts!