IRA Charitable Rollover
People aged 70½ and older have a special tax-free opportunity to make a meaningful charitable gift through an IRA Charitable Rollover as part of the required minimum distribution. The Greater Cincinnati Foundation can help!
If you are at least 70½, the law allows you to transfer up to $100,000 of your IRA assets each year directly to a qualified public charity such as the Greater Cincinnati Foundation.
Since the assets you transfer will not be recognized as income, they will not trigger federal income taxes today or estate tax in the future. If you are married, you and your spouse can each transfer up to $100,000 per year.
In December 2015, federal legislation was passed making this tool permanent.
Contact the Giving Strategies staff of the Greater Cincinnati Foundation if you have any questions. We can be reached at 513-241-2880 or by email.
Options for your IRA charitable rollover [PDF]