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2017 IRA Charitable Rollover Information

If you are over 70½ years of age and have an IRA, we have some great news for you! You may transfer up to $100,000 directly from your individual retirement accounts to JEWISHcolorado – without triggering income tax.

It’s called an IRA Charitable Rollover Gift; the amount you transfer may satisfy your entire required minimum distribution and is TAX-FREE! (Yes, even though the money comes from an IRA, it is excluded from taxable income).

Do not delay! Rollovers for 2017 must be completed by December 31. If you are eligible, it is a wonderful opportunity for you to use your IRA to accomplish your philanthropic goals. The following guidelines and restrictions apply for making an IRA Charitable Rollover gift:

  • The donor must be 70½ years old or older.
  • The IRA transfer must go directly from your IRA to JEWISHcolorado.
  • Married couples may each donate up to $100,000 from individual IRA accounts.

Transfers of IRA assets cannot be made to donor advised funds, supporting organizations, charitable gift annuities, or charitable remainder trusts. The gift is not eligible for an additional charitable income tax deduction.

If you qualify, consider using your IRA Charitable Rollover to fulfill your pledge to JEWISHcolorado’s Annual Campaign; create an endowment at JEWISHcolorado to perpetuate your Annual Campaign gifts; or provide above and beyond support for a JEWISHcolorado program or service that meets your philanthropic passions.

The process of making an IRA Charitable Rollover starts with your IRA provider. Contact your IRA provider for instructions or call JEWISHcolorado for a sample letter you can personalize to instruct your IRA provider. To authorize a wire transfer from your IRA account to JEWISHcolorado, or if you have questions or simply want to review the forms, contact Ray Merenstein, Interim Chief Development Officer, at rmerenstein@JEWISHcolorado.org or 303-316-6452.