Charitable IRA Information
In 2013, individuals age 70 1/2 and older were able to transfer up to $100,000 per year from individual retirement accounts (IRAs) to charity -- without incurring federal or estate income taxes. This is called a “Charitable Rollover”, and offers tremendous benefits to the donor and to the nonprofit. As of September 1, 2014, the US Congress has not yet issued a ruling as to whether or not this valuable provision will be available for tax year 2014 and beyond. Look for updates from us – in writing and on this website – when that decision is made.
IRA transfers to the Erie Community Foundation address a broad range of current and future needs. Your Erie Community Foundation evaluates all aspects of community well-being -- arts and culture, community development, education, environment, health and human services -- and awards strategic grants to select projects and programs.
As a professional advisor, you can help your clients make a difference with their Charitable Rollovers. The information below may be helpful, and if you have further questions, please call or email Susannah Weis Frigon at 814-454-0843.