Save Taxes. Support BFC. Feel Good. Give to Bread for the City Through Your IRA!
December 26, 2015 by BFC in Development Fundraising
Did you know that individuals 70 ½ years old or older can direct gifts from their IRAs to Bread for the City?! This opportunity may have great tax benefits to you, while simultaneously supporting the safety-net programs of Bread for the City.
Some important notes:
- Any qualified charitable distributions made in 2015 will not be included in your gross income for 2015.
- You must be 70 ½ years old on the date of transfer.
- The total maximum distribution per person is $100,000; a couple may be able to give up to $200,000.
- Distributions can be made only from a traditional or Roth IRA. Other retirement plans, such as pensions or 401(k) plans, are not eligible.
- The distribution must come directly to Bread for the City from your IRA administrator.
You have until December 31, 2015 to make a direct distribution to Bread for the City from your IRA, and it will be applied towards your 2015 charitable IRA distribution.
Questions? Email Kristin at KFoti@BreadfortheCity.org. (And don’t forget to consult your personal tax adviser!)
0 New comments