IRA Charitable Rollover
You may be looking for ways to make a difference in the lives of others, to give to a cause whose mission is to address the needs
of our suffering world. An IRA charitable rollover is a way you can help our Sisters continue their work.
Benefits of an IRA Charitable Rollover
- Avoid taxes on transfers of up to $100,000 from your IRA
- Make gift that is not subject to the deduction limits on charitable gifts
- Support the mission of our Sisters
How it works
On Dec. 18, 2015, the President of the United States signed a law that made the
IRA charitable rollover permanent. Donors 701⁄2 or older are eligible to move up to
$100,000 from their IRAs directly to qualified charities without having to pay
income tax on the money. The IRA charitable rollover rules are listed below.
Donors may make a direct transfer if:
- The donor is age 701⁄2 or older on the day of the gift.
- The donor transfers up to $100,000 directly from the donor’s IRA to one or more qualified charities. This opportunity applies only to IRAs and not to other types of retirement plans.
- The donor does not receive any goods or services in return for the rollover gift in order to qualify for tax-free treatment.
- The gift needs to be made by Dec. 31st, for the gift to qualify in the current calendar year.
IRA Charitable Rollovers are also known as Qualified Charitable Distribution (QCD),
this option provides a tax benefit when donations are made directly from your IRA
to the Sisters. In this way, your gift can potentially reduce annual income level,
Medicare premiums, and amount of Social Security subject to tax.
Steps to take
1. Contact your IRA plan administrator to make a gift from your IRA to us.
2. Your IRA gift will be transferred directly to our organization.
3. Note: IRA charitable rollover gifts do not qualify for a charitable deduction.
4. Please let us know if you would like your gift to benefit a specific purpose.
More Ways to Give
Donate by phone
Donate by mail
Download our Mail-In Donation Form and return with check or money order to:
175 Route 340
Sparkill, NY 10976
Dominican Convent of Our Lady of the Rosary
Federal Tax ID Number
Thank you for your generosity
No matter the size or method of your donation, your gift is a blessing to those in need and to our Sisters. You and your personal intentions are remembered daily in the prayers of our Sisters, and every month during our celebration of Evening Vigil Mass.
The information contained on this page is a general guide to help educate you on various charitable giving options. It should not be considered your only source of research. We recommend that you seek guidance from a reputable financial planner, tax accountant, or investment expert before making a gift to ensure that you get the best tax benefits for your situation.