Gifts By Retirement Plan Asset
The Consolidated Appropriations Act of 2016 (H.R. 2029) was signed into law on Dec. 18, 2015, extending the popular “charitable IRA rollover” provision permanently. The standard qualifications have not changed. People aged 70 1/2 or older, who own a traditional or Roth IRA, are allowed to make a charitable gift of up to $100,000 directly from their IRA to qualified charities. Public Broadcasting Atlanta is qualified, and your gift to us (including your required minimum distribution) can completely bypass your income going forward.
We recommend that you consult with your attorney or tax advisor for the various tax benefits and restrictions that may apply to your specific situation. We are available to you and your advisors to help arrange a gift to PBA; please call Elizabeth Spears, major gifts officer, at (678) 686-0308 or by email at firstname.lastname@example.org.
Atlanta Educational Telecommunications Collaborative, Inc.
Attn: Amanda La Kier
740 Bismark Road, NE
Atlanta, GA 30324
If you send a charitable IRA rollover gift, please let us know to watch for the gift and request that your IRA manager include your contact information with the check. Your IRA manager cannot identify your gift without your permission.
Helpful to Know
- The only benefits permissible from a charitable IRA rollover gift are those that would not reduce the tax deduction for which the donor would have otherwise qualified. At PBA, a charitable IRA rollover gift is allowed to count toward naming opportunities and toward recognition society membership such as the Cornerstone Society.
- There is no corresponding charitable tax deduction for rollover gifts because they are not counted as income.
- It is the donor’s responsibility to ensure that the donor’s IRA distributions comply with IRS rules.