If you’re age 70 ½ or better, you can take advantage of the IRA Charitable Rollover to make a gift to the Sisters of St. Francis and realize tax benefits for yourself.
Now permanently enacted by Congress, this option allows individuals to directly transfer all or part of their IRA’s annual required minimum distribution to the sisters without incurring federal income tax on the withdrawal.
- You must be age 70 ½ or better when you make the gift
- Transfers must be made directly from your Traditional IRA account by your IRA administrator to the Sisters of St. Francis of Tiffin, Ohio. (Gifts from a Roth IRA, 401k, 403b, SEP or other retirement plans do not qualify.)
Because the funds are transferred directly to the Sisters of St. Francis, your gift is not considered as taxable income to you. You also have the satisfaction of seeing the immediate impact your generosity has for our ministries.
If you’d like to make a Qualified Charitable Distributions gift, your financial institution should make the check out to “Sisters of St. Francis” and identify you as the donor by name and address so we can credit you for the donation.