Vol 15, Issue 12

Charitable IRA Rollover

Please share this information with the friends, particularly anyone over 70 years of age:

Individuals age 70 ½ and older can make a direct transfer of an amount up to $100,000.00 per year, from their IRA to the National Spiritual Assembly as a non-taxable event. This option benefits the National Bahá'í Fund, and can be a great tax savings for the donor. Please note, no additional deduction is permitted for this contribution.

In order to participate in the IRA Charitable Rollover the following criteria must be met:

*The donor must be at least 70½ years of age when the direct transfer is made

*The transfer must be made directly from the IRA administrator to the National Spiritual Assembly, Tax ID 36-2981492, 1233 Central Street, Evanston, IL 60201

*A contribution from the IRA can be any dollar amount but cannot exceed $100,000 per person in a given year

*The direct transfer must be an outright contribution ( i.e establishing a charitable gift annuity with these funds is not permitted).

*Funds from a 401k do not apply

For additional information regarding the IRA Charitable Rollover please contact: Beverly Abercrombie, Planned Giving Coordinator, at 847-733-3495 or babercrombie@usbnc.org or Amin Vargha, Planned Giving Associate, at 847-733-3495 or avargha@usbnc.org.