IRA Charitable Rollover
Individuals who are over 70 1/2 may make gifts of up to $100,000 directly from their IRA to Taos Community Foundation, benefiting the Taos community. Call us today, as there are many advantages to this option.
Here’s a short video that explains this giving option:
Benefits of an IRA charitable rollover
- Avoid taxes on transfers of up to $100,000 from your IRA to Taos Community Foundation.
- Satisfy your required minimum distribution (RMD) for the year (if you are over 72 and must take distributions).
- Reduce your taxable income, even if you do not itemize deductions.
- Make a gift that is not subject to the 50% deduction limits on charitable gifts.
- Support Taos Community Foundation forever with a gift to their endowment fund, or contribute to any of their Field of Interest Funds or Designated Agency Funds of your choice!
How an IRA charitable rollover gift works
- Contact your IRA plan administrator to make a gift from your IRA to Taos Community Foundation.
- Your IRA funds will be directly transferred to Taos Community Foundation to support the fund you desire. Please indicate which existing TCF fund you wish your gift to support or let us know if you wish to create a new fund.
- Please note that IRA charitable rollover gifts do not qualify for a charitable deduction and cannot be given to a donor-advised fund or a private foundation.
If you have any questions about an IRA charitable rollover gift, please contact us today! We would be happy to assist you and answer any questions you might have.