IRA Charitable Rollover Gifts

Have an immediate impact - If you are 70.5 years old, or older you can take advantage of a simple way to help charitable organizations like the Center for Alaskan Coastal Studies and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a charity, without having to pay income taxes on the contribution. This can be accomplished with an IRA Charitable Rollover Gift.

At some point, you have to withdraw money from of your IRA. Once you turn 70.5 you must take a required minimum distribution (RMD) each year from your IRA and the RMD amount increases with your age. You are taxed on the RMD at ordinary income tax rates, as opposed to lower capital gains tax rates. If you do not take your full RMD you may be subject to a tax penalty.

  • An IRA Charitable Rollover gift is a distribution from your IRA that is paid directly to a charity of your choice. You cannot claim an itemized charitable deduction for this gift, but it is not included in your income and you pay no income taxes on it.

  • An IRA Charitable Rollover gift offers several benefits. Because the transfer generates. neither taxable income nor a tax deduction, you benefit even if you do not itemize your deductions.

    This is especially relevant since the standard deductions have recently been increased, making itemized deductions less appealing.

  • The process is simple. All you need to do is instruct your IRA custodian to make a distribution from your IRA directly to the charity or charities of your choosing. Your IRA custodian should include your name and address, as well as any specific instructions you have for the use of the gift, along with the payment.

    Our federal tax ID number is: 92-0086250

Add us as a Beneficiary

Make an impact later - You can make Center for Alaskan Coastal Studies a beneficiary on your IRA, 401(k) or other retirement plan by going into your online portal or calling your agent. You can choose to distribute a percentage or a certain dollar amount.