If you are 70 ½ or older you may be interested in a way to lower the income and taxes from your IRA withdrawals.
An IRA charitable rollover is a way you can help support our work and benefit with no taxes. Contact your IRA custodian and make a qualified charitable distribution. We will acknowledge your generous gifts as a qualified charitable distribution, which may satisfy your Required Minimum Distribution (RMD), if applicable.
What are the benefits of making a bequest?
- Avoid taxes on transfers of up to $100,000 from your IRA to our organization.
- May satisfy your required minimum distribution (RMD) for the year.
- Reduce your taxable income, even if you do not itemize deductions.
- Make a gift that is not subject to the deduction limits on charitable gifts.
- Help further the work and mission of our organization.
How an IRA charitable rollover gift works?
- Contact your IRA plan administrator to make a gift from your IRA to BISM.
- Your IRA funds will be directly transferred to our organization to help continue our important work.
- Please note that IRA charitable rollover gifts do not qualify for a charitable deduction.
- Please contact us if you wish for your gift to be used for a specific purpose.
Questions?
If you have any questions about an IRA charitable rollover gift, contact Jessica Normington, Development Director at (410) 737-2636 or jnormington@bism.org.
