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IRA Charitable Rollover Update

Providing for Unitarian Universalism while making sound financial plans for yourself and your family.

Permanent Extension of the IRA Charitable Rollover Becomes Law!

The IRA Charitable Rollover is Now Permanent

If you are 70 1/2 or older, making an IRA rollover gift is a great way for you to support Unitarian Universalism! There are a few details that we wanted to share with you about the bill and the IRA rollover: The IRA rollover allows donors who are 70½ or older to transfer up to $100,000 directly from their IRA to charity each year.

  • You pay no income tax on the gift.
  • The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your taxes.
  •  An IRA rollover gift can be used to meet all or part of an IRA required minimum distribution.
  • The bill is retroactive to December 31, 2014. If you made a gift directly from your IRA to us at any point during 2015, your gift will qualify as a rollover gift.
  • The new legislation does not have an expiration date. You can make gifts in 2015 and beyond!

If you are considering making an IRA rollover gift, please contact us at giftplans [at] uua [dot] org. We would be happy to talk to you more about this wonderful gift opportunity.

The following link will take you to a sample letter for your IRA administrator Sample IRA Rollover Request (PDF).

What Is Planned Giving?

A wide range of giving opportunities fit under the planned giving umbrella, including charitable bequests, life income gift arrangements such as charitable remainder trusts and gift annuities, gifts of real estate and gifts that use retirement and insurance plan benefits.

In return for a planned gift, donors and their families may receive important estate and income tax benefits or an attractive annual income stream for their life or the life of a secondary beneficiary.

Most planned gifts are deferred, meaning your congregation, the Unitarian Universalist Association (UUA) or other Unitarian Universalist (UU) entity will enjoy the financial benefits after the donor dies. Often a planned gift is the largest single gift donors will ever make.

The following links will lead you to further information about how planned giving may work for you and the UU entities you love:

2014-2015 'In Memoriam' Video Now Available

Each year at General Assembly, we recognize just a few of the many dedicated Unitarian Universalists who have passed on during the previous year with an 'In Memoriam' Video which is now available online.

About the Author

Marcia Trahan

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