Charitable IRA Rollover Becomes Permanent, Allows Lifetime Gifts

Just before noon today, the Senate voted to pass the Protecting Americans from Tax Hikes (PATH) Act making the IRA Charitable Rollover permanent law.

The Charitable IRA allows American seniors to make the gift of a lifetime by giving their individual retirement accounts (IRAs) to charity, tax-free.

People age 70½ and older can transfer up to $100,000 per year from IRAs to charity-without incurring federal income taxes today or estate and income taxes in the future. If married, each spouse can transfer up to $100,000 from his or her IRA annually.
IRA donors may choose from several types of funds available at the Community Foundation. Chief among these are:
  • Unrestricted Funds: Donors use this fund to meet ever-changing community needs-including future needs that often cannot be anticipated at the time a gift is made. Our local expertise helps us evaluate all aspects of community well-being. This fund is then used to make a difference where it is needed most.
  • Field of Interest Funds allow donors to target gifts to causes important to them: arts, AIDS services, urban education, neighborhood revitalization, youth welfare and more.
  • Designated Funds are earmarked for a specific nonprofit organization or purpose. These funds provide ongoing funding for a specific nonprofit organization-a senior center, museum or any qualifying nonprofit charitable organization.
Because of IRS regulations, gifts from your IRA to Donor Advised Funds do not apply.
If you or someone you know is interested in this type of gift or want to learn more, please contact Beth Stipe at beth@cfncw.org or call us at (509) 663-7716.
Now through December 31st, we’re matching all new funds by 10% up to $1,000 so now is a great time to open a new fund!

Leave a Comment





Subscribe to the CFNCW e-newsletter for donor news, scholarship opportunities, and good work being done in the community. 

Something went wrong. Please check your entries and try again.

GIVE TO A FUND

ESTABLISH A FUND

GIVE FROM YOUR WILL

GIVING CARD

BECOME A PIG

GIFTS OF STOCK

YOUR GIFT AT WORK

Cruz.Xitlali

Xitlali Cruz

SCHOLARSHIP RECIPIENT

I am currently pursuing a degree in Mechanical Engineering with a minor in Computer Science at Stanford. Since the beginning of my freshman year I have been involved with clubs such as Stanford’s Space Initiative (SSI) and the Society of Latinx Engineers (SOLE). In SSI I built a rocket and launched it.

ThomasSmith

Aero Methow Rescue Service

GRANT RECIPIENT

Due to being rural, remote, and geographically isolated, we must be prepared to do more than respond to emergencies. We have become a healthcare partner who fills gaps in service. The grant allowed our board the time and ability to work with a Strategic Planner to modify our plan to address those gaps.

2019RIGOutreach-RosieYardSigns-Crop

Chelan Douglas Volunteer Attorney Services

GRANT RECIPIENT

The grant provided funds to hire a Housing Justice and Outreach Coordinator to visit rural and underserved areas. Rosie’s bilingual and bicultural skills and experience have increased equity of service. Rosie is building partnerships with local organizations through events such as the Columbia Valley Community Health’s Back to School Drive, as well as posting yard signs.

Tenoch Mandujano

Tenoch Mandujano

Scholarship Recipient

My father was a migrant agricultural worker who eventually started his own cherry and apple orchard. He told me if I wanted to live a better life, I had to get an education. I plan on starting a career with the Chelan PUD with a passion for renewable energy and in turn give back to my parents and community for supporting my dreams.

$0 M

ASSETS UNDER MANAGEMENT

$0 M

GRANTS & SCHOLARSHIPS AWARDED

0+

CHARITABLE FUNDS

FOUNDATION FACTS

arc-darkest-green-01