December 22, 2021

The Benefits of an IRA Charitable Rollover

As the end of the year approaches, we’d like to thank our generous community for their continued support of Kline Galland. As a private, non-profit organization, we often have a gap in compensated care that is covered by folks like YOU. Your contributions allow us to continue providing the top level of senior care and prepare for the future of aging.

We are often asked “what is the best way to contribute to Kline Galland?”, and the answer is simple: the best way to give is the way that works best for you and your family. While there are many options for you to consider, we wanted to take a moment to highlight the benefits of an IRA charitable rollover.

An IRA charitable rollover allows you to make tax-free gifts directly from your IRA to eligible charities. For those aged 70.5 and older, your IRA may have a required minimum distribution (RMD) for the year that has not yet been fully satisfied. End of year giving may help complete this requirement. You can give any amount large or small, with a maximum of $100,000. The gift does not count as income and may in turn reduce your annual stated income for tax purposes.

Our goal is to make giving as easy as possible. If you are interested in learning more about IRA charitable rollovers and how it may benefit your family, please don’t hesitate to contact us for more information or consult your IRA plan administrator.

We thank you once again for your consideration of support of the Kline Galland organization. From our hearts to yours, we wish you a wonderful rest of your year.