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Giving To Molloy » IRA Charitable Rollover

IRA Charitable Rollover

 

You may be looking for a way to make a big difference to help further our mission. If you are 70½ or older, an IRA charitable rollover is a way you can help continue our work and benefit this year.

 

IRA

 

Benefits of an IRA charitable rollover

  • Avoid taxes on transfers of up to $100,000 from your IRA to our organization
  • Make a gift that is not subject to the deduction limits on charitable gifts
  • Satisfy your required minimum distribution (RMD) for the year
  • Reduce your taxable income, even if you do not itemize deductions
  • Help further the work and mission of Archbishop Molloy High School
 

How an IRA charitable rollover gift works

  1. Contact your IRA plan administrator to make a gift from your IRA to us.
  2. Your IRA funds will be directly transferred to our organization to help continue our important work.
  3. Please note that IRA charitable rollover gifts do not qualify for a charitable deduction.
  4. Please contact us (click to direct email [email protected]) if you wish for your gift to be used for a specific purpose.

Certain restrictions and requirements* must be followed when making this type of gift. Before proceeding, you should also consult with your tax advisor to discuss your situation including any impact of your state's tax laws.

*For example, the following transfers will not qualify distributions to private foundations, to donor advised funds, for life income gifts (e.g., charitable remainder trusts), and for any purpose that entitles you to receive a benefit, such as tickets to a dinner.

 

SAMPLE FORM LETTERS (click links below)