Giving

How it Works

Protecting Americans from Tax Hikes Act of 2015 made permanent the Tax Free Charitable IRA Rollover.

  • Donors aged 70½ or older can ask their IRA custodian to transfer up to $100,000 in 2017 and each year thereafter to a qualified not-for-profit like Road Scholar.
  • Distributions can only be made from traditional Individual Retirement Accounts or Roth IRAs.  Charitable donations from 403(b) plans, 401(k) plans, pension plans, and other retirement plans are ineligible for the tax-free treatment.
  • The value of these gifts will not be counted as part of your adjusted gross income (AGI) so you will not pay income taxes on the amount distributed directly as gifts.
  • However, these gifts will not qualify for charitable contribution income tax deductions.
  • If you have not taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.

Tax-Free Gifts from IRAs cannot be used in the following ways:

  • They cannot fund a charitable gift annuity or be given as a contribution to a charitable remainder trust or our Pooled Income Fund. 
  • Transfers to private foundations, donor-advised funds and supporting organizations do not qualify.
  • No goods or services may be received in exchange for these contributions.

Gifts directed from your IRA Administrator should be made payable to: 

Road Scholar, 11 Avenue de Lafayette, Boston, MA 02111-1746

For more information or to discuss how you may direct your gift, please contact:

Ann Lamond, Sr. Planned and Major Gift Officer, at ann.lamond@roadscholar.org or toll free at (877) 737-0664.

 

This information is not intended as legal or financial advice. We recommend you consult your plan administrator and your tax advisor or personal attorney to understand how the distribution requirements apply to your personal circumstances.