Community News

Taking a required minimum distribution from your IRA this year?

November 22, 2017

Get a tax break while giving back to your community when you make a gift to the Community Foundation of South Puget Sound with a distribution from your IRA.

If you are 70½ years old or older, you can take advantage of a simple way to benefit public charities such as the Community Foundation and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity such as ours without having to pay income taxes on the gift.

Gifts to the Foundation’s grantmaking programs qualify for this preferred tax treatment. In past years, donors have enjoyed supporting Unrestricted, Field of Interest, and Scholarship Funds with their IRA Charitable Rollover. Gifts to Donor Advised Funds do not qualify.

If you would like to know more about the benefits associated with the IRA Rollover and how to make this type of gift, please contact us today. Our team is ready to assist you in pursuit of your charitable goals.

November 22, 2017

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