Since 2006, the IRA Charitable Rollover has grown increasingly popular for our donors over the age of 70 ½ who are required to take a mandatory minimum distribution (RMD) from their IRA. Using a portion or the entire RMD to create or contribute to a charitable fund has been an attractive option to clients who don’t need the income – and don’t want to report is as taxable income, either.
While donor advised funds are not eligible to receive contributions from an IRA, we still offer several fund types that can help the donor accomplish their charitable goals including scholarship, field of interest, donor designated or charitable organization endowment funds. Over time, the permanently endowed fund grows and distributes a larger annual amount to charity or scholarship.
