Planned Giving

Individual Retirement Accounts Charitable Rollover

We have exciting news! If you are interested in making a gift from your Individual Retirement Account (IRA), Congress extended the IRA Charitable Rollover which allows you to make a gift to the Jewish United Fund Annual Campaign or Jewish Federation Centennial Campaign with beneficial tax results for you. 

Here are some of the highlights:

  • You may make distributions from your IRA to qualified charitable organizations any time in 2013.
  • Charitable distributions may be in any amount, up to $100,000 for each year.
  • You must be at least 70 ½ years old to make this special distribution.
  • Distributions must be made directly to the charitable organization.
  • You will not be taxed on the charitable distribution, but you do not receive a charitable tax deduction unless you have previously paid taxes on the IRA contribution (i.e. a nondeductible contribution).
  • Distributions may be made from traditional or Roth IRAs.
  • IRA charitable rollover distributions may NOT be made to a philanthropic fund, supporting foundation, split interest trust or charitable gift annuity. 

A distribution from you IRA can be used to make a charitable gift to the Jewish United Fund Annual Campaign or The Centennial Campaign, the Jewish Federation’s capital and endowment campaign to build for the Jewish future.  

Making a charitable distribution from your IRA is very easy to do.  Please contact your plan administrator for the appropriate form.  We would like the opportunity to assist you with this process or to discuss this wonderful opportunity.  Please call the Legacies and Endowments Department at 312-357-4853 for further details.  

 


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