Support » Charitable IRA Rollover

Charitable IRA Rollover

Are you a supporter of The White Mountain School/St. Mary's-in-the-Mountains over 70½ years of age with an IRA? Would you like to contribute to the School in a tax-wise way? If so, the Charitable IRA Rollover giving option may be right for you. Now that Congress has made the IRA Charitable Rollover permanent, you can make thoughtful contributions to the School, satisfy your required minimum distribution (RMD), and avoid income tax you would otherwise have to pay on mandatory withdrawals. This benefit is available to itemizers and non-itemizers.


Tax-Free IRA Rollover Permanently Extended

The Trade Facilitation and Trade Enforcement Act of 2015 made the IRA Charitable Rollover a permanent giving opportunity for qualified donors. Under this legislation, qualified donors may make outright gifts of up to $100,000 to charity from their IRA and avoid taxation on the distribution. For gifts to be counted toward the required minimum distribution for the current year, transfers must be made by December 31.

Click here to download a sample letter to help facilitate this tax-wise way to support the School and take advantage of tax-free distributions.


Qualifications

To benefit from this gift opportunity, you must meet the following qualifications:

  • The donor must be 70½ or older at the time of transfer.

  • The gift must be outright. Gifts to most donor-advised funds or life-income vehicles do not qualify.

  • The gift must be transferred directly from the IRA account by the IRA administrator to the School. Donors with check-writing ability for their IRAs may use this feature.

If you would like to further discuss this giving option, please contact Scott Hunt at scott.hunt@whitemountain.org or 603.444.2928 x249. Thank you for considering a Charitable IRA Rollover—your support helps every student, every day!


Disclaimer: Any information concerning giving options or their tax benefits on this web page, website, or elsewhere provided by The White Mountain School is of a general educational nature only and does not constitute, or substitute for, legal or financial advice. Please seek competent legal or financial advice regarding how any gift to the School might affect your personal situation(s).