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Legacy Giving: 

IRA Charitable Rollover

Another smart way to make a gift to the SLSO and receive tax benefits is to make an IRA Charitable Rollover gift. To qualify, you must be 70 ½ years old or older when the distribution is made. Further, the transfer must be outright and directly to the SLSO from your IRA account. Tax-free charitable IRA rollover gifts cannot be used to fund a gift annuity, a charitable remainder trust, a donor advised fund or a private foundation.

The tax benefits can be substantial, particularly if you are itemizing only because of the charitable deduction. If you use the IRA rollover, the payment to the charity will not be in your income and you can take the standard deduction. You may transfer up to $100,000 each calendar year. Those transfers are excluded from your gross income for federal income tax purposes and will count toward your minimum distribution requirement.

Contact Us

Elizabeth Niven
Senior Director of Planned Giving
Phone: 314-286-4192
Email

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