IRA Charitable Rollover

IRA Charitable Rollover Gifts from Donors 70 1/2 or Older

On December 18, 2015, the president signed legislation indefinitely extending the IRA Charitable Rollover, making it retroactive to January 1, 2015, with no expiration date.

The IRA Charitable Rollover allows taxpayers age 70 1/2 years or older to make tax-free charitable gifts of up to $100,000 per year directly from their Individual Retirement Accounts to eligible charities. As long as certain requirements are met, the amount transferred from the IRA administrator to the charity is free of federal income tax and the gift qualifies toward your annual Required Minimum Distribution (RMD). This transfer does not qualify for the federal income tax charitable deduction.

As the IRA Charitable Rollover no longer expires, you can direct the administrator or custodian of your IRA to transfer a gift of $100 to $100,000 to The James Dick Foundation each year. The gift amount must be transferred directly from the administrator of the IRA. The owner of the IRA can designate how the gift is to be used by the Foundation.

How can you make an IRA Charitable Rollover Gift?

Contact your IRA administrator or custodian and instruct them to make an IRA Charitable Rollover gift to The James Dick Foundation, tax ID number 74-1732353. The check must be made payable to The James Dick Foundation and mailed to PO Box 89, Round Top, Texas 78954. Please ensure that information is included on the check identifying you as the donor.

For your IRA Charitable Rollover to count against your RMD for 2016, contact your IRA administrator or custodian and direct the transfer by December 31, 2016.



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Round Top Festival Institute is the sole project of The James Dick Foundation for the Performing Arts,
a 501(c)(3) non-profit public educational foundation since 1972.