Making an IRA Rollover Gift to the Dominican Friars
Congress passed a law in December 2015 which permanently allows you to make tax-free charitable gifts from your IRA. If you are 70 ½ or older, rather than simply take your withdrawal this year, you can direct your IRA administrator to distribute a gift from your IRA to the Dominican Friars. As this is a transfer of funds, you do not report this as taxable income and therefore you will not pay taxes. Your gift goes towards all or part of your minimum distribution requirement. You benefit even if you do not itemize your tax deductions. Your donation can help impact and transform the lives of all those the Friars will reach with the saving message of the Gospel of Jesus Christ.
To make your IRA gift, simply contact your IRA provider. You may need to provide them with our Tax ID number which is EIN 26-3273636. Please contact us when you make your gift as some IRA providers do not list the donor’s name along with the check and to let us know how you would like your gift to be used.
To Learn Why a Gift From Your IRA, under the CARES Act, May Still Be a Good Idea, Click Here.
If you have any questions, please contact our Planned Giving Office at PlannedGiving@dominicanfriars.org or call 646-350-0108.
