by Beth Adams, Messiah member and Charitable Gift Planner for the ELCA Alaska, Washington, Oregon, Idaho, Montana
The Rollover helps you make direct gifts to your congregation and other ministries of the ELCA, and save on taxes.
Made permanent December 18, 2015, the IRA Charitable Rollover allows individuals who are 70 ½ or older to direct gifts from their traditional IRA to eligible charitable organizations.
There is a cap of $100,000 for charitable distributions from individual IRAs each year.
Individuals may exclude the amount distributed directly to an eligible charity from their gross income, but cannot take a charitable contribution deduction for the contribution.
These gifts can count toward a donor's required minimum distribution (RMD).
Gifts must be postmarked by December 31 to satisfy your RMD for a calendar year.
If your custodian is making an electronic transfer, the gift must be received on or before December 31.
HOW TO MAKE THE GIFT
For more information on charitable gifting please contact: