IRA Charitable Rollover
For individuals age 70 ½ or older, the IRA Charitable Rollover is a tax-wise way to support Ohio Citizen Action. If you are required to make annual withdrawals from an IRA account, these otherwise taxable distributions can satisfy your annual Required Minimum Distribution (RMD) and exclude these funds from your taxable income.
Each year, you (and your spouse) can transfer as much as $100,000 to Ohio Citizen Action for a purpose that you choose.
What are the benefits?
- Transfer tax-free gifts from your IRA directly to Ohio Citizen Action
- Can be applied toward your annual Required Minimum Distribution (RMD)
- Beneficial for individuals who do not itemize deductions on their income tax
- Withdrawals not subject to annual charitable deduction limitations
How an IRA charitable rollover gift works
- Contact your IRA plan administrator to make a gift from your IRA to us. For a sample transfer request form click here.
- Your IRA funds will be directly transferred to the Ohio Citizen Action to help continue our important work.
- Please note that IRA charitable rollover gifts do not qualify for a charitable deduction.
- Please contact Melissa English, firstname.lastname@example.org if you wish for your gift to be used for a specific purpose.
If you have any questions about an IRA charitable rollover gift, please contact Melissa English, email@example.com
We would be happy to assist you and answer any questions you might have.