Individuals age 70 1⁄2 or older are mandated to take a Required Minimum Distribution (RMDs) from their tax-deferred retirement accounts including Traditional Individual Retirement Accounts (IRAs) as well as other employer-sponsored retirement plans.
An IRA charitable rollover is a way you can help support SALUTE, INC. and receive tax and income benefits.
Benefits of an IRA charitable rollover:
- Avoid taxes on transfers of up to $100,000 from your IRA to our organization
- May 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 organization
How an IRA charitable rollover gift works:
- Contact your IRA plan administrator to make a gift from your IRA to us.
- Your IRA funds will be directly transferred to our organization to help continue our important work.
- Please note that IRA charitable rollover gifts do not qualify for a charitable deduction.
- Please contact Sheilya Hackett-Swan at firstname.lastname@example.org if you wish for your gift to be used for a specific purpose.
Note: Individual tax situations may vary; please consult with your tax advisor. SALUTE, INC. is a public charity classified as exempt under section 501(c)(3) of the Internal Revenue Code. The tax ID number is 06-1718308.