IRA Charitable Rollovers
A Unique Gift Opportunity for Donors 70 ½ Years or Older
IRA charitable rollovers can be a great way for some donors to give a gift to Family Crisis Centers. IRA charitable rollovers allow taxpayers to make charitable gifts directly from their IRA to eligible charities, like Family Crisis Centers, without having to pay income taxes on the money. Donors can give any amount up to $100,000 per year. The IRA charitable rollover is a popular gift option because of the tax benefit. It is sometimes referred to as a qualified charitable distribution, or QCD.
Why Consider an IRA Charitable Rollover?
There are many potential benefits to a gift of this type. Family Crisis Centers will put your gift to use immediately so you can see the impact of your gift and the difference it makes in helping to end violence in the lives of others. Here are some other benefits:
- In the year you turn 73, you can use your gift to satisfy all or part of your required minimum distribution (RMD).
- You pay no income taxes on an IRA charitable rollover.
- It’s beneficial to taxpayers even if you do not itemize deductions.
- The gift does not count as income, so it can reduce your annual income level. There are benefits to a reduced annual income level, so talk with your financial advisor today.
What About Other Ages?
We know that IRAs typically come with different rules and regulations at different ages. You can still support Family Crisis Centers through your IRA, regardless of your age. You can designate Family Crisis Centers as a beneficiary to all or part of your IRA and it will pass to FCC tax-free after your lifetime. To do this, you would need to contact your IRA administrator and request a change-of-beneficiary form. It is important to let us know of your future gift.
Some retirement plan administrators have no obligation to notify a charity of the designation, and also are not required to monitor if gift designations are followed. Letting us know will help us ensure your gift intentions are followed. Thank you in advance for considering a gift!
Talk to Your Financial or Legal Advisor
The information on this page should not be taken as legal, accounting, tax, or other professional advice. We recommend that anyone considering an IRA charitable rollover talk to their financial or legal advisor to ensure it’s the right gift for you. If you would like to include Family Crisis Centers in your plans, use our legal name (Family Crisis Centers, Inc) and our federal tax ID (42-1185690). Contact us to let us know of your gift intentions so we can ensure your gift helps support our mission in the ways you want it to.