You may be looking for making a more significant difference to our mission …and to leverage your savings.
If you are 70 ½ or older, you may be able to lower your taxable income and taxes from your required IRA withdrawal. An IRA Charitable Rollover is a way you can both contribute more … while paying less in taxes.
Benefits of an IRA charitable rollover
- Avoid taxes on transfers of up to $100,000 from your IRA to our nonprofit organization
- Satisfy your Required Minimum Distribution (RMD) for the year (all or in-part)
- 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
- Help us serve the local community even better
How an IRA charitable rollover gift works
- Contact your IRA plan administrator to make a gift directly from your IRA to the Hoffman Center for the Arts (EIN#: 20-1691293)
- Your IRA funds will be directly transferred to us to help continue our Mission
- You are done! Please note that IRA charitable rollover gifts reduce your taxable income dollar for dollar though do not qualify as a charitable deduction