Menu

Sustain Your Jewish Community with a Tax-Free IRA Gift to Jewish Federation

 

 

As the calendar year comes to a close, you may be eligible to make a tax-free gift from your Individual Retirement Account (IRA) to Jewish Federation of Greater Orange County. Partner with us to create a strong, secure, and thriving Jewish community here in Orange County, in Israel, and around the world.

 

Individuals age 70 1/2 and older can make direct transfers totaling up to $100,000 per year from their IRAs to Jewish Federation of Greater Orange County without tax implications.

 

Benefits of an IRA Charitable Rollover

  •  Avoid paying taxes on your IRA withdrawal when gifted directly to Jewish Federation.
  •  Satisfy your required minimum distribution (RMD) without increasing your income taxes.
  •  Designate your gift to a specific area of interest at Jewish Federation or to a Jewish Federation endowment.


Requirements for an IRA Charitable Rollover

  •  You must be at least 70 1/2 at the time of distribution.
  •  Maximum distribution is $100,000 total each year, per individual. In order to receive the tax benefits in a particular calendar year, make your gift to Jewish Federation of Greater Orange County by December 31.
  •  Other tax-deferred retirement plans, such as a 401(k) or 403(b), do not qualify; however, you may be able to roll such a plan into an IRA and then make a charitable rollover gift to Jewish Federation.


How to make your gift

  •  Contact your IRA plan administrator for their specific transmittal form or download this sample qualified charitable distribution letter to request a gift transfer from your IRA to Jewish Federation.
  •  On the form, specify the amount to be transferred to the Jewish Federation.
  •  Include Jewish Federation of Greater Orange County's Tax ID number: 14-1584342
  •  Checks from your IRA should be made payable to:
    The Jewish Federation of Greater Orange County
    292 North Street
    Newburgh, NY 12550
     

To discuss this and other charitable gift planning options, please contact Wendy Cedar at (845)562-7860 or director@jewishorangeny.org

 

Jewish Federation of Greater Orange County does not provide legal or tax advice. Before proceeding, we encourage you to consult your legal or tax professional to discuss your particular situation.