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IRA Charitable Rollover

TEMPORARY UPDATE FOR OUR DONORS - PLEASE NOTE:

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted on March 27, 2020. One notable change arising from the CARES Act is the required minimum distribution (RMD) waiver for 2020. This provision will permit IRA and other qualified retirement plan owners to retain funds in their IRAs. Because the markets declined substantially after the current RMD was calculated based on the plan value on December 31, 2019, Congress determined that it was beneficial to waive the RMD for 2020.

You may still wish to use your IRA to make a qualified charitable distribution (QCD) to Catholic Foundation of Eastern Montana in 2020. The QCD continues to be available up to $100,000 for individuals who are over age 70½. Thank you very much, in advance, for your loving and generous support of the Catholic Church and its future through a charitable gift through your IRA!



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. (Note from Kimi: The highlighted "the" there are two on the page currently, take one of them out)

IRA Charitable Rollover
IRA (Custodian)
CFEM
Charity image

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

  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, and you may designate your gift for a particular endowment to benefit your parish, the diocese, or a favorite ministry.
  3. Please note that IRA charitable rollover gifts do not qualify for a charitable deduction.
  4. Please contact us if you wish for your gift to be used for a specific purpose.

Contact us

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.

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