Give the Gift of a Lifetime: Tax-free Charitable IRA Rollover

We can make your charitable IRA transfer easy, flexible and effective, helping you achieve your personal charitable and financial goals. You can transfer excess retirement assets directly and easily to the Bay Area Community Foundation. The transaction incurs no federal income tax, and the asset is no longer part of your estate for tax purposes. You can choose to give during your lifetime so that you (and your community) can see results sooner than if your gift had been made through the plan.

Larger estates face confiscatory tax rates that significantly reduce the amount left to their heirs (other than a spouse). Any amounts left in an IRA when an individual dies may be taxed as income to the beneficiary and are also considered assets for the purpose of calculating that person’s estate tax liability. When you give your IRA to charity, your heirs are not burdened by the taxes associated with receiving your IRA upon your death. Instead, you can leave them other assets that have a more favorable tax treatment.

How it works:

  • You make a gift of up to $100,000 by transferring IRA assets to your community foundation. You must be 70 1/2 years old. If married, each spouse can transfer up to $100,000 from his or her IRA.
  • Your gift can be placed into a charitable fund in your name, the name of your family, or in honor of any person or organization you choose. We handle all administrative details.
  • Your gift can be placed into an endowment that is invested and will grow over time. Grants addressing community needs will be made forever.

We would be happy to work with you and your financial advisor to make a donation through stock, an IRA or retirement plan, an insurance policy, a bequest, or other planned gifts. For more information, call us at 989.893.4438.

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