IRA Charitable Rollover

Self-Help for IRA Owners at Age 70 ½ or Older: 
What is an IRA Charitable Rollover?

A “required minimum distribution” from a tax-deferred Individual Retirement Account --- say 4% of the total value --- qualifies now for a tax-free distribution to the Providence ministry of your choice.
This gift may be right for you if any one of the following applies to you and your family:
  • You are required to take a minimum distribution from your IRA, but you do not need the additional income.
  • You have an outstanding pledge to a Providence ministry.
  • You do not itemize your deductions --- meaning that other philanthropic options may not offer equivalent tax benefits in the year of the gift.

Please be advised of the requirements for making an IRA charitable rollover gift:
  1. The donor must have reached age 70 ½.
  2. The IRA administrator makes a direct transfer to a Providence ministry; see below for a sample letter from the donor to his or her IRA administrator.
  3. Gifts to all qualified charities cannot exceed a total of $100,000 per taxpayer per year.
  4. This gift will not generate an income tax charitable deduction.
  5. This gift cannot be made to a donor advised fund; check with the Office of Planned Giving on other restrictions.
Let the Providence foundation know you are (a) considering this philanthropic option, or (b) proceeding with an IRA charitable rollover gift, please.

Download a sample Letter of Instruction HERE

If you would like to learn more please contact:

BitzerRonRon Bitzer, CFP
Director of Planned Giving
Office: (818) 847-4673 or 
Cell: (310) 415-2796

Disclaimer: Please consult with your own tax and legal advisors, who can review any formal proposal for a Providence Gift Annuity submitted to you by Providence Foundations Los Angeles Region.