Tax-Free IRA Charitable Rollover
At the end of 2015, President Obama signed the PATH Act, which enables donors who are 70 1/2 or older to give up to $100,000 from an IRA directly to a qualifying charity tax free.
The Pension Act of 2006 permitted individuals to roll over up to $100,000 from an IRA directly to a qualifying charity – such as the Community Foundation – without recognizing the assets transferred as income. At the end of 2015, the President signed the PATH Act making this special provision permanent.
Qualifying Gifts
- Made by a donor age 70 1/2 or older
- Transferred from a traditional or Roth IRA directly to a permissible public charity, such as the Colorado Springs Philharmonic.
- Completed during the applicable tax year.
- An amount not greater than $100,000
How To Give
- Download this document, containing more details and instructions.
- Send letters a) to your IRA Plan Administrator with instructions to send a gift; and b) to the Philharmonic to let us know to anticipate your gift.
