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.