IRA Rollover

In 2015, Congress updated the laws regarding IRA charitable distributions, permanently extending the IRA charitable rollover. 

What does this mean? 

It means that donors age 70½ or older can now make tax-free charitable gifts of up to $100,000 per year directly from their Individual Retirement Accounts to charities of their choice, including Madison Cat Project!

How does this work?

Taxpayers age 70½ and older are required to take annual distributions from their IRAs which are then included in their adjusted gross income (AGI) and subject to tax. The IRA charitable rollover permits taxpayers to make donations directly to charitable organizations from their IRAs without counting them as part of their AGI. This rollover distribution counts toward the required minimum distribution for IRA holders.

Interested? Want to know more?

Are you interested in giving to Madison Cat Project in this way? Or are you interested in learning more about how all of this works? Contact our Director, Charmaine Friar, by email or by phone at 608-561-8235. 

PLANNED GIVING

If you are interested in learning more about how you can make an estate gift or planned gift, contact our Director, Charmaine Friar, by email or by phone at 608-561-8235.