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IRA Charitable Rollover

The IRA Charitable Rollover provision allows individuals who have reached age 70 ½ to donate up to $100,000 per year to charitable organizations directly from their Individual Retirement Account (IRA) without treating the distribution as taxable income.  These gifts can be used to meet the donor’s required minimum distribution.

During Your Life

During your life, gifts from your IRA can be given to many funds at the Community Foundation of Central Georgia, including endowment funds, scholarship funds, and field of interest funds.  However, you cannot make an IRA charitable rollover gift to a donor advised fund during your life.

At Your Death

At your death, gifts from your IRA can be given to any fund at the Community Foundation, including donor advised funds.  Because retirement assets are some of the highly taxed assets and are among the most costly assets to pass onto heirs, using your IRA to make charitable gifts to organizations such as funds at the Community Foundation of Central Georgia can be a great strategy.

It’s easy to do!

  • To make an IRA Rollover Gift during life, contact your IRA plan administrator to transfer the desired amount to CFCG (EIN #58-2053465).
  • To make a charitable gift from your IRA at death, simply update your IRA beneficiary form to name a fund at CFCG as a charitable beneficiary.
  • Please call Julia Wood at the Community Foundation of Central Georgia (478-750-9338) to discuss how you would like to designate your current or future gift.

We know this can be complicated.  If you have any questions about charitable gifts from your IRA during your life or at your death, please consult your tax advisor and contact us at 478-750-9338.