IRA Charitable Rollover

In December of 2015, Congress passed a permanent extension of the IRA Charitable Rollover provision which, if you are age 70½ or older, makes it easy to make tax-free distributions to the Community Foundation of Southern Indiana or any other qualified charitable organizations (up to $100,000 per year) from your Individual Retirement Account (IRA).

It’s simple to make an IRA rollover gift to your favorite charity – just consult with your retirement plan administrator and tell them you would like to make an IRA Charitable Rollover distribution to the Community Foundation of Southern Indiana. Then, we’ll work with you to establish your personalized charitable plan.

Because we are a 501(c)(3) charity, you can make your direct charitable IRA rollover gifts to the Community Foundation. Then, we will distribute your rollover gifts to nonprofits in accordance with your unique charitable wishes. This works especially well when you would like the rollover amount distributed over a period of several years, if you want to make rollover gifts to more than just one charity, or if you wish to make anonymous gifts. You can also make “the gift of a lifetime” by establishing a permanent charitable legacy.

Why use the IRA Charitable Rollover to Make a Gift to CFSI?

  • – Establish permanent legacy for your favorite charitable causes
  • – Benefit more than one charity with single gift
  • – Make a significant gift anonymously
  • – “Stretch out” one rollover gift for a specified number of years
    • –Example: annual tithe to church

If you have any questions about the IRA Charitable Rollover, please contact Linda S. Speed, President & CEO of the Community Foundation of Southern Indiana, at (812) 948-4662 or lspeed@cfsouthernindiana.com.

 

 

  • It is important to remember that IRA Charitable Rollover gifts cannot be made to support a donor advised fund or private foundation. Your gift can be used to support a designated fund, field of interest fund, or the Foundation’s Community Fund which supports the greatest needs of our region though community grants.