The IRA charitable rollover is a terrific way to make a tax-free gift to Father Bill's & MainSpring.
You can make a tax-free gift from your traditional IRA (other qualified retirement plans such as 401(k)s and 403(b)s are not eligible). You must be at least 70 ½ years old to take advantage of this opportunity.
You must transfer your gift directly from your IRA administrator to Father Bill's & MainSpring. The total of all of your rollover gifts in any one year cannot exceed $100,000 per person. A spouse with a separate IRA could also make a rollover gift of up to $108,000 if they otherwise qualify.
The benefits of an IRA charitable rollover gift include:
- Satisfies the required minimum distribution but is not included in taxable income.
- Avoids income tax on IRA withdrawals.
- Supports the important work of FBMS with a tax-free gift.
If you are interested in making such a gift or would like more information, please contact:
Lucille Cassis, Chief Development Officer
781-654-1684 | lcassis@helpfbms.org
