TAX-FREE IRA CHARITABLE TRANSFERS
On December 18, 2015, Congress passed the PATH Act, which renews and makes permanent the Charitable IRA provision of 2006, making it easier for YOU to make a difference! This provision allows donors to roll over up to $100,000 annually from an Individual Retirement Account (IRA) to charity without being federally taxed.
People aged 70½ and older can transfer up to $100,000 per year from IRAs to charity—without incurring federal income taxes today or estate and income taxes in the future. If married, each spouse can transfer up to $100,000 from his or her IRA annually. The opportunity for the $100,000 tax-free transfer occurs annually.
We realize that our donors consider many factors as they make significant financial, estate and charitable decisions. To help you make those decisions, here are some useful resources:
- Charitable IRA Worksheet: Is a Charitable IRA Right for You?
- Click Here for Answers to Frequently-Asked Questions About the IRA Charitable Rollover from the Council on Foundations
MAKING GRANT RECOMMENDATIONS
You may make grant recommendations from your donor advised fund at any time. Grants are usually paid within two weeks of the date the recommendation is received. The minimum grant per organization is $100. Grant checks will be accompanied by a letter, customized for your fund, that indicates the grant has come from your fund and asks for the grantee’s acknowledgment of receipt. You may choose to remain anonymous.
ADDING TO YOUR FUND
Adding to your fund is easy and can be done at any time in a number of ways:
- Send a check, payable to The Community Foundation for the Greater Capital Region, with the name of your fund in the memo line or an accompanying letter.
- Contribute using Mastercard or Visa by calling (518) 446-9638.
- DONATE ONLINE.
- Gifts of stock are also accepted. Please review this form and call the Community Foundation at (518) 446-9638 for more information.
Donor Central is a free, valuable tool available to donors who have established a fund at the Community Foundation. You must pre-register for access to this page. Please contact Jenna Cuilla, Philanthropic Services Officer, at (518) 446-9638 for your username and password. Once you have registered, you can sign on to Donor Central to manage all of your fund activities and grantmaking requests.
With Donor Central, fund advisors can:
- View gift history (see a list of contributions to your fund, updated daily)
- Make grant recommendations
- Download our most current investment performance report
HELPFUL INFORMATION AND POLICIES
- Gift Acceptance Policy – details the Community Foundation’s policies for various types of gifts we can accept
- How to Give Securities – provides information on how to donate securities or mutual fund shares to the Community Foundation
- Spending Policy – describes the Community Foundation’s policy for making distributions from its endowed funds
- Statement of Fees – fees charged on various types of funds