If you are 70 1/2 or older, now is the perfect time to use your IRA Charitable Rollover to make a gift to the Jewish Federation of Philadelphia.
Special Incentives for Donors Over 701⁄2
If you are age 701⁄2 or older, now is the perfect time to use your IRA Charitable Rollover to make a gift to the Jewish Federation of Greater Philadelphia. This year, you can donate up to $100,000 directly from your IRA to charity without having to pay income tax on the distribution. The distribution will also count toward the amount you are required to withdraw from your IRA for the year
Your IRA Charitable Rollover can be used to pay your annual campaign gift, create an endowment or jumpstart new initiatives or capital campaigns. (Under the law, distributions cannot be made to donor-advised funds, supporting organizations, private foundations or to purchase a charitable gift annuity).
IRA Charitable Rollover gifts help Federation take care of the most critical needs of our Jewish community, including helping seniors age safely and with dignity; providing safety-net services for Jews locally, in Israel and in the former Soviet Union; and providing grants for Jewish education, camping and Israel travel.
Act Now As Time is Running Out!
The IRA charitable rollover expires on Dec. 31, so time is of the essence. Please consult with your attorney, accountant or tax adviser. For more information, contact Jennifer Brier, Endowment Officer, at 215-832-0528 or [email protected]
Regardless of your age, there is another tax-wise option to consider: Name Federation as the beneficiary of your IRA. Distributions to Federation will not be subject to income and estate taxes. It can be beneficial when planning your estate to leave these highly taxed assets to Federation. This option is not subject to the Dec. 31 deadline.
Charitable Gift Annuities Benefit You and the Jewish Community
Charitable Gift Annuities are an excellent alternative to today’s low CD rates that can increase your income and support Federation. During this season of giving, give to yourself and your Jewish community through a Charitable Gift Annuity. By making a gift of cash or appreciated securities, you can ensure that Federation continues to meet critical needs, while providing yourself with a fixed payout each year — a great way to supplement your income.
For more information on establishing your Jewish legacy, contact Rachel Gross, director of Planned Giving & Endowments, at 215-832-0572 or email: [email protected]
Disclaimer: Federation does not provide legal advice. Donors are encouraged to seek independent tax and legal counsel.