August 31, 2016

Use Your IRA to Support the Causes You Love Forever

At the end of 2015, the IRA charitable rollover was signed into permanent law. This is a huge opportunity for generous people like you to make a permanent investment in the charitable causes you love.

How does the IRA charitable rollover work?

If you or a family member are age 70 ½ or older, contributions made from your IRA to one or more permanent endowment funds at Indian River Community Foundation (up to $100,000 per year) are not reported as taxable income.  A contribution made from your IRA also qualifies as your required minimum distribution (RMD) which can lower your income and taxes.  In years past, donors had to wait each year to find out if the IRS would permit these types of distributions.  Now that this legislation is permanent, it means you can plan to use your RMD now.

What can you do with your RMD at Indian River Community Foundation?

Here are some examples of what you can accomplish by making your RMD to Indian River Community Foundation.

  1. Establish a permanent endowment fund to support your favorite charity forever. Let’s say that you make an annual contribution of $1,000 to support a local charity like Gifford Youth Achievement Center.  You could contribute $25,000 of your RMD to create a permanent endowment fund at Indian River Community Foundation designated to permanently support this organization.  These assets would be invested over time, and each year an annual distribution of four percent of the fund’s value would be made in your name to Gifford Youth Achievement Center.
  2. Support emerging community needs. Each year, Indian River Community Foundation receives dozens of requests from local charities for grants to support programs or projects that make our community better.  You could contribute up to $100,000 of your RMD to the Better Giving Fund at Indian River Community Foundation.  These dollars would be awarded as grants to local nonprofits following the example of those highlighted in this article.
  3. Help to sustain Indian River Community Foundation. Indian River Community Foundation is one of the fastest growing new community foundations in the country, and it is ranked as one of the top 10 most active grantmakers among all U.S. community foundations.  Like any new nonprofit business, however, the Community Foundation requires operating capital to carry out its charitable mission.  Contribute $25,000 or more of your RMD to our operating endowment, and join more than 52 Founders listed here who support the Community Foundation’s ongoing operations.

For more information about this giving opportunity, please contact a member our donor services team at 772.205.2977 or at

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