An Additional Incentive to Give: IRA Charitable Rollover Legislation Renewed for 2014

December 22, 2014

Through the end of this year, IRA charitable rollover gifts enable IRA owners ages 70.5 and up to provide significant support to Longyear while reducing their taxable income.

The IRA Charitable Rollover was recently extended until December 31, 2014 (retroactive to January 1 of this year), allowing qualified donors to transfer up to $100,000 in IRA funds to non-profits. Any funds transferred directly to a charitable organization from an IRA are not included in the IRA owner’s income and therefore are not taxed. Under this legislation, the IRS is providing an incentive for donors to be more generous to charitable organizations this holiday season, including Longyear – a 501(c)(3) non-profit organization.

If you are interested in supporting Longyear with a year-end IRA charitable rollover gift before December 31, or if you have questions or would like additional information about this unique giving opportunity, please contact Ryan Siewert at 617.278.9000, ext. 250, or at rsiewert@longyear.org.

We have drafted a sample letter of instruction that you may wish to share with your IRA custodian. Download sample letter here (PDF).

Thank you, in advance, for considering how you might support Longyear this year with an IRA Charitable Rollover of any amount before December 31, 2014.

 

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