The Charitable IRA Rollover allows taxpayers to share their blessings by giving of their savings directly to Concordia - and bypassing income tax. More specifically, this provision allows individual taxpayers over the age of 70 1/2 to transfer up to $100,000 of Individual Retirement Account (IRA) assets to a charity, such as Concordia, without triggering federal income taxes today or estate tax in the future. You have until Dec. 31 to take advantage of IRA tax-free giving.
"With the congressional legislation now passed into law by the President, donors are now able take advantage of this flexible and impactful giving vehicle for Concordia’s benefit now and into the future," said Chief Development Officer Scott Koskoski. "Our office is able to assist donors hoping to provide additional support to Concordia’s mission through the IRA rollover."
If you have questions or would like to speak about your IRA assets in furtherance of your charitable goals, and to begin the process in time to meet the Dec. 31 tax year deadline, please contact the Concordia Lutheran Ministries Foundation at 724-352-1571 ext. 8291 or firstname.lastname@example.org.
For more information on charitable giving opportunities at Concordia, click here to visit the Give A Gift section of our website.