IRA Charitable Rollover
If you are 70½ years old or older, you can transfer up to $100,000 directly from your IRA to the MPFS every year without paying income taxes on the distribution. Contact your tax attorney or consultant for advise.
BENEFITS OF AN IRA CHARITABLE ROLLOVER
- Avoid taxes on transfers of up to $100,000 from your IRA to our organization
- Satisfy your required minimum distribution (RMD) for the year
- Reduce your taxable income, even if you do not itemize deductions
- Make a gift that is not subject to the deduction limits on charitable gifts
- Help further the work and mission of our school
HOW AN IRA CHARITABLE ROLLOVER GIFT WORKS
- Discuss this with your tax attorney or consultant.
- Contact your IRA plan administrator to make a gift from your IRA to us.
- Your IRA funds will be directly transferred to our school to help continue our important work.
- Please note that IRA charitable rollover gifts do not qualify for a charitable deduction.
- Please contact us if you wish for your gift to be used for a specific purpose.