How Charitable IRA Rollovers Work

 

ALERT: IRA Charitable Rollover Now Permanent

Under federal legislation signed on Dec. 18, 2015 you can use your Individual Retirement Account (IRA) to make a gift to your favorite charitable institutions, such as St. Anthony Shrine.

Individuals age 70 ½ and older can now instruct their IRA administrators to make a distribution directly to St. Anthony Shrine and exclude the amount of the gift from their gross income for federal tax purposes.

By making an IRA charitable rollover, you can:

• Satisfy your required minimum distribution
• Avoid federal and, in many cases, state income taxes
• Provide critical support to the sacramental and outreach ministries of the Shrine

Maximize your 2015 charitable gift and create an immediate and tangible impact at the Shrine.

Already made an IRA rollover in 2015? Your gift will be covered by this legislation.

To be eligible:

• You must be 70½ years of age or older at time of distribution
• Total charitable gifts cannot not exceed $100,000 per taxpayer each year
• Transfers from traditional and Roth IRAs must be made directly from the account administrator to the Shrine.

To make a gift

• Contact your IRA administrator to request that a charitable distribution be transferred to St. Anthony Shrine.
• To ensure gifts are properly recognized and recorded, instruct your IRA administrator to indicate the donor’s name on the check and specify that the gift is an IRA charitable distribution.

 Send your check to:

St. Anthony Shrine
Maryanne Rooney-Hegan
Development Office
100 Arch Street
Boston, MA 02110

St. Anthony Shrine Tax ID: 04-2119394

 

Note: The IRA charitable rollover is federal law; state and local law may not provide the same benefits.