A win-win way to give
When Pauline Antons thought about how she could make a lasting impact on her community, she followed her passion.
The former Jones Soil and Water Conservation District commissioner made a charitable rollover contribution from her individual retirement account (IRA) to the district’s endowment to support clean soil and water for years to come.
“The IRA rollover is an excellent way to make a gift, and there are tax advantages,” she says.
Like Antons, donors age 70½ and older who are taking minimum individual retirement account distributions can support the future of their community — without incurring a tax burden — by transferring up to $100,000 per year from IRAs to charity.
“Many people we work with make this type of gift, because it’s a win-win: It supports causes they care about, and they don’t incur federal income or estate taxes,” says Amy Manternach, vice president of finance and philanthropy for the Community Foundation. “In 2018, the Community Foundation processed 89 IRA rollovers totaling nearly $415,000.”
Donors can make IRA rollover contributions to funds at the Community Foundation that support emerging needs in the community, causes near and dear to them or the work of specific nonprofits. In addition, gifts to endowed funds could be eligible for Endow Iowa 25% State Tax Credits.