IRA Charitable Rollover Made Permanent

On December 19, 2015, the IRA Charitable Rollover provision was made permanent, retroactive to January 1, 2015. If you are age 70 1/2 or older, you may transfer up to $100,000 from your traditional or Roth IRA to a qualified public charity such as The Community Foundation of Western North Carolina. Couples with separate IRAs may each transfer up to $100,000. While there is no charitable deduction for the transfer, it is free of federal income tax, counts toward your annual Required Minimum Distribution (RMD) and is excluded from your gross income.

At CFWNC, your gift can establish or add to a charitable fund: a Designated Fund for specific organizations, a Scholarship Fund, a Field of Interest Fund or the Fund for Western North Carolina. While donor advised funds, supporting organizations and private foundations do not qualify for these transfers, CFWNC can work with you to address your charitable interests in another way.

We are glad to help facilitate IRA gifts for 2015, but if you've already taken your 2015 IRA distribution, this is an opportunity to plan for 2016 and beyond. You'll benefit most by giving IRA assets if you:

  • Are eager to make charitable gifts or build a legacy.
  • Take only the minimum required IRA distributions.
  • Are subject to charitable deduction limitations.
  • Are a non-itemizer. Gifting IRA assets gives you the equivalent of a tax deduction for charitable gifts transferred from your IRA.

Charitable IRA transfers are just one way CFWNC can help you to achieve your personal, financial and charitable goals. With confidential, personalized service, we can help you craft a gift to address the issues you care about most.

Please call us at 828-254-4960. Sheryl Aikman, Vice President of Development and Becky Davis, Development Officer are eager to help.