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IRA Charitable Rollover Donation
Recent legislation had provided a new avenue for giving through donating financial resources from an IRA or Roth IRA. However, the legislation has now expired and this giving avenue is no longer available. If you would be interested in giving through an IRA Charitable Rollover donation, please check back to this site for updates or contact the Office of Development for the latest information. In order to have qualified for a tax benefit from this type of donation, the following conditions would have to be met:
- Age 70½ or older
- A maximum gift of $100,000 or less
- The funds are donated directly from an IRA or Roth IRA
- The gift is transferred to one or more “public charities”, which includes the Archdiocese and the Archbishop’s Annual Appeal.
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It is important to note that giving through an IRA Charitable Rollover does not allow one to claim a charitable deduction on one’s taxes. Instead, the tax benefit is that no income tax is charged on assets given via this method.
As with all tax-related information on this site, this information is provided only for educational purposes. Please contact a legal or financial professional before making any financial decisions.
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