Charitable IRA Rollover
If you have significant assets in your IRA and you are over 70 ½, you can make an IRA charitable rollover gift directly to Lighthouse Guild and satisfy your minimum required distribution. Distributions from an IRA are normally subject to income tax, but by having your distribution directed to Lighthouse Guild, you will not be subject to income tax on this distribution. Please note, however, that you will not be able to claim a charitable income tax deduction for this direct gift.
The rollover legislation has been made permanent, so individuals can gift up to $100,000 per year in this tax-favorable way.
To make a qualifying IRA Rollover gift, instruct your IRA administrator to make a direct transfer to Lighthouse Guild. Please notify us of your plans so we can properly thank you.