IRA Charitable Rollover
One excellent, tax-advantaged way to support the Catholic Church is through a Charitable IRA Rollover to benefit an endowment at the Catholic Foundation of Eastern Montana. If you are 70½ years of age or older, the IRA Rollover is a terrific way to lower the income and taxes from your IRA withdrawals while making a meaningful charitable gift.
Benefits of an IRA charitable rollover
- Avoid taxes on transfers of up to $100,000 from your IRA to the Catholic organization
- Satisfy your required minimum distribution (RMD) for the year
- Reduce your taxable income, even if you do not itemize deductions
- Make a gift that is not subject to the deduction limits on charitable gifts
- Help further the mission of the Foundation and your favorite endowment or ministry
How an IRA charitable rollover gift works
- Contact your IRA plan administrator to make a gift from your IRA to us.
- Your IRA funds will be directly transferred to our organization, and you may designate your gift for a particular endowment to benefit your parish, the diocese, or a favorite ministry.
- Please note that IRA charitable rollover gifts do not qualify for a charitable deduction.
- Please contact us if you wish for your gift to be used for a specific purpose.
If you have any questions about an IRA charitable rollover gift, please contact us. We would be happy to assist you and answer any questions you might have.