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Make a Gift From My IRA

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IRA Charitable Rollover

You may be looking for a way to make a big difference to help further our mission. If you are 70½ or older you may also be interested in a way to lower the income and taxes from your IRA withdrawals. An IRA charitable rollover is a way you can help continue our work and benefit this year.

IRA Charitable Rollover
IRA (Custodian)
OBCF
Charity image

Benefits of an IRA charitable rollover

  • Avoid taxes on transfers of up to $100,000 from your IRA to our organization
  • Satisfy your required minimum distribution (RMD) for the year
  • Reduce your taxable income, even if you do not itemize deductions
  • Make a gift that is not subject to the deduction limits on charitable gifts
  • Help further our work of providing grants and scholarship through our existing funds, or create a new designated or unrestricted fund to support a purpose of your choosing

How an IRA charitable rollover gift works

  1. Contact your IRA plan administrator to make a gift from your IRA to Outer Banks Community Foundation or a qualified component fund (Donor advised funds do not qualify for a charitable deduction).
  2. Your IRA funds will be directly transferred to us to support an area of your choosing: either for a particular cause, a specific fund, to award scholarships, or to underwrite all of our work on the Outer Banks.
  3. Please note that IRA charitable rollover gifts do not qualify for a charitable deduction; rather, the amount of the gift reduces your annual income, which will reduce income tax liability.
  4. Please contact us if you wish for your gift to be used for a specific purpose.

Contact us

If you have any questions about an IRA charitable rollover gift, please contact us. We would be happy to assist you and answer any questions you might have.

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