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Skagit Valley Hospital

Senate Approves IRA Charitable Rollover

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In case you haven’t heard, on March 10 the US Senate extended a number of tax breaks including the IRA charitable rollover that allows individuals 70 ½ years of age and older to contribute as much as $100,000 from an IRA to a charity without paying taxes.  In a climate where more donors are interested in using planned giving vehicles to support the causes they believe in and in which more nonprofits are seeking seed funding for endowments, the IRA rollover offers a way to meet the needs of both donors and charities.  While the House and Senate still need to align their respective versions of this legislation, the extension is expected to be approved.

To check for the latest updates on the IRA charitable rollover, check the Partnership for Philanthropic Planning’s website.

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About the Author

Kristin Barsness CFRE

Vice President

With a researcher’s eye for the important details, Kristin understands the intricacies of building strong donor relationships to meet your fundraising goals.

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