The passage of the PATH Act reinstates and makes permanent IRA charitable donations to benefit donors and all charitable organizations!
There are definite tax advantages to giving appreciated securities when you’ve owned them for more than one year. In most cases, the fair market value of the stocks, bonds, and mutual fund shares will be allowable as a charitable deduction. The San Francisco-Marin Food Bank joins our philanthropic community in celebrating the passage of permanent IRA charitable rollover provisions. If you are interested in making a charitable gift from your IRA this year or in the future, please consider supporting the Food Bank with your gift. Your generosity makes all the difference in our efforts to provide food for all.
A gift of appreciated securities provides significant benefits, including an immediate charitable deduction for the full market value of the stock and avoidance of capital gains taxes that would normally be due upon sale. (Consult your tax advisor regarding limitations on deductions for gifts of securities held for less than one year.)
Here’s how it works:
Individuals who are 70 1/2 years or older.
What accounts can I transfer from?
Your gift must come directly to us from your IRA either Roth or traditional.
How much can I transfer?
Any amount up to $100,000 per year. This amount will count toward your required minimum distribution; however, it will not be treated as taxable income to you.
How do I make an IRA Charitable Rollover?
To make an IRA Charitable Rollover, you can use our new online resource to complete your gift online in just a couple of minutes. This tool allows you to decide where you would like to designate your gift, and takes care of filling out any tedious paperwork.