Use an IRA to save on taxes and support Catholic causes at The Catholic Foundation

One of the most tax-effective giving strategies of 2018 has been the Charitable IRA Rollover.  Did you know that if you are 70½  or older that you can transfer up to $100,000 to an endowment fund at the Catholic Foundation directly from an IRA?

The Charitable IRA Rollover allows donors to transfer up to $100,000 from a traditional or Roth IRA to a qualified charity like The Catholic Foundation. By rolling over the IRA distribution, donors avoid having to claim the distribution as gross income on their taxes. By transferring your Required Minimum Distribution (RMD) you may also prevent yourself from being bumped into a higher tax bracket, effectively lowering your tax bill.  Transfers must be made directly from an IRA custodian to The Catholic Foundation in order to qualify.

If you would like to support a favorite Catholic church, school, or ministry through an IRA contact Scott Hartman (614-443-8893 or for additional details.

Don’t forget, all transfers must be completed by Monday, December 31 in order to qualify as a 2018 rollover!

Disclaimer: We’re not accountants, this does not constitute tax advice. Please consult a tax professional.