Category Archives: Philanthropy

Give More for Less This Year with a Charitable Gift from your Retirement Account

"By planning ahead each year for an IRA Charitable Rollover gift, it helps our charitable dollars go further. It just makes financial sense and allows us to support scholarships for students who were in foster care.” – Janice Haunschild

Are you age 70 ½ or older and looking to make a greater impact with your year-end giving? The Oklahoma City Community Foundation can help you make a tax-free gift of up to $100,000 from your Individual Retirement Account (IRA) to support your favorite charitable cause.

For many individuals who may not need to take an annual distribution from their IRA and would prefer not to pay taxes on that income, an IRA Charitable Rollover gift is the perfect solution. With an IRA Charitable Rollover, you can satisfy your annual required minimum distribution and use that money to give back to your favorite charity. Better yet, the IRA charitable rollover is not subject to income taxes and by using pretax IRA assets, your charitable gift costs you less.

“By planning ahead each year for an IRA Charitable Rollover gift, it helps our charitable dollars go further,” says Oklahoma City donor Janice Haunschild. “It just makes financial sense and allows us to support scholarships for students who were in foster care.”

IRA Charitable Rollover Giving Options
While IRA Charitable Rollover gifts cannot be made to donor advised funds, the Oklahoma City Community Foundation offers several endowment fund options that are eligible. By making an IRA Charitable Rollover gift to the Oklahoma City Community Foundation, you can support:

  • Scholarships for students
  • Endowment funds for your favorite charity
  • Designated charitable fields of interest
  • Fund for Oklahoma City

Learn more about these giving options and find out how the Oklahoma City Community Foundation can help you use your IRA fund to give back for less at occf.org/ira.

Boys & Girls Clubs, Other Local Charities Receive $9 million from Oklahoma City Community Foundation Funds

During October, the Oklahoma City Community Foundation will distribute $9 million to 370 charitable organizations serving central Oklahoma. The annual funding comes from the Community Foundation’s charitable organization endowment program, which is the largest permanent endowment program for nonprofits in the nation.

“We are honored to manage endowments for our community’s nonprofits,” said Nancy B. Anthony, Oklahoma City Community Foundation President. “This program provides an important source of funding to help ensure vital charitable services and programs will continue.”

Charities receiving funding have permanent endowment funds at the Community Foundation and serve central Oklahoma in areas such as education, health care, social services, arts and culture.

“The Oklahoma City Community Foundation’s charitable organization endowment program allows organizations such as ours to have a base of funding that we know we can count on year after year,” said Jane Sutter, president and CEO of Boys & Girls Clubs of Oklahoma County. “Individuals who want to contribute to the endowment can do so very easily. It’s an investment in our future.”

How Does an Endowment Fund Work?

1 A charity or a donor establishes a permanent fund at the Oklahoma City Community Foundation to benefit a 501(c)(3) organization.
2 The Community Foundation invests the fund with our general pool, so that it benefits from investment performance.
3 Donors contribute to the fund and, over time, the fund grows through investment performance and additional donor gifts.
4 Each year, the beneficiary charitable organization receives a cash distribution from the fund to support its work. Distributions are equal to 5 percent of the fund’s average market value for the previous 12 quarters. As the fund balance grows, so does the organization’s annual distribution.

To learn how to make a gift to one of 370 charitable organization endowments, visit occf.org/coegift.