IRA Charitable Rollover
You may be looking for a way to make a big difference in North Dakota. If you are 70½ or older, an IRA charitable rollover is a way you can help support your favorite North Dakota nonprofit organization, school, or community and also receive a tax benefit this year.
Benefits of an IRA charitable rollover
- Avoid taxes on transfers of up to $100,000 from your IRA to NDCF.
- Satisfy your required minimum distribution (RMD) for the year.
- Reduce your taxable income, even if you do not itemize deductions.
- Make a gift that is not subject to the deduction limits on charitable gifts.
- Choose the fund at NDCF you wish to support with your gift, or create a new fund that meets your charitable goals.
How an IRA charitable rollover gift works
- Contact your IRA plan administrator to make a gift from your IRA to North Dakota Community Foundation, benefiting the fund(s) of your choice.
- Your IRA funds will be directly transferred to NDCF and deposited in the designated funds.
- Please note that IRA charitable rollover gifts do not qualify for a charitable deduction and cannot be given to a donor-advised fund or a private foundation.
- Please contact us if you wish for your gift to be used for a specific purpose.
If you have any questions about an IRA charitable rollover gift, please contact us. We would be happy to assist you and answer any questions you might have.