Planned Giving

IRA Charitable Rollover

We have some great news to share with you. The American Taxpayer Relief Act of 2012 extends the IRA Charitable Rollover for 2013. This provides a wonderful opportunity to contribute to the JUF Annual Campaign and the Jewish Federation’s Centennial Campaign without having to pay income taxes on the distribution. You may make a gift from your IRA directly to a qualified charity or charities in an amount up to $100,000 at any time in 2013 and have it treated as a Charitable IRA Rollover for 2013.

The requirements are:

  • Donors must be at least 70 ½;
  • The maximum amount which may be transferred from an IRA is $100,000;
  • Distributions can only be made to qualified charitable organizations such as the JUF or Jewish Federation;
  • Distributions must be made directly to the charitable organization through the IRA plan administrator, unless it falls under one of the exceptions listed above for 2012;
  • Distributions must be made from traditional or Roth IRAs;
  • The distribution cannot be made to a donor advised fund, supporting foundation, private foundation, split interest trust, or charitable gift annuity.

The benefits are:

  • IRA distributions directly to charities are not treated as a taxable distributions;
  • IRA distributions to qualified charities qualify for the required minimum distribution;
  • Assets are removed from your estate;
  • Your generosity helps the Jewish community when it is most in need of donations.

We encourage you to consult with your professional advisor and to call the Legacies and Endowments staff at (312) 357-4853 or email legacy@juf.org today for more information. 

 


The Jewish Federation of Metropolitan Chicago does not provide legal advice. Donors are encouraged to consult their independent tax and legal counsel.