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Advisor’s Corner: Charitable IRA Rollovers Benefit Your Community

The IRA Charitable Rollover is a permanent incentive allowing donors who are 70 ½ or older to direct part or all of their required minimum distribution to a qualified charitable organization.

Arkansas Community Foundation can be your partner in giving through an IRA Charitable Rollover. Many of our funds and endowments meet the requirements for accepting these types of gifts.

Here are the basics:

  • You can contribute up to $100,000 from your IRA
  • Donors can request multiple direct transfers from their IRA to qualified charities in a year, but only up to $100,000 can be excluded from income as an IRA qualified charitable distribution
  • If you are married, your spouse is also eligible to contribute up to $100,000 from their IRA
  • The gift must come to the Community Foundation directly from the institution holding the IRA account. Community Foundation staff are prepared to work with your financial advisor or your IRA account holder to ensure a smooth and successful transfer.   IRA Rollovers are allowed to fund unrestricted or designated funds.

What are the benefits?

  • The amount gifted to charity is not counted toward the donor’s ordinary income
  • IRA Rollover proceeds ARE excellent contributions to 501c3s (including most funds and endowments at the Community Foundation)
  • Qualified charitable contributions from an IRA do not include gifts to:
  • Supporting Organizations
  • Private Foundations (some exceptions)
  • Donor Advised Funds and Donor Advised Endowments

Contact Ashley Coldiron today at 501-372-1116 to learn more about how the Community Foundation can accept a qualifying gift from your IRA.

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