The Charitable IRA Rollover


The most recent Charitable IRA Rollover provision is extended through December 2011. The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 allows people who are 70 ½ years and older to make a current gift of up to $100,000 from a traditional or Roth IRA throughout tax year 2011.  Gifts made this way are not subject to income tax.

At 70 ½ owners of IRAs must begin taking taxable distributions from their plans.  (IRAs were never intended to avoid taxes, only to defer them.)  Many people will, therefore, find it more advantageous to use their IRAs to make charitable gifts, than to make gifts from other resources.

This opportunity applies only to gifts made during tax years of 2010 and 2011.  The transfer of the funds must be made directly by your plan administrator and must take place on or before December 31, 2011.  

You may also want to consider naming Surfrider Foundation as a beneficiary of a portion of the amount left in your IRA at the time of your death.  Because IRA's defer taxes until the time of distribution,  it is generally better to leave IRA assets to charity and cash and stocks to your heirs.

For more information on making a gift from your Individual Retirement Account please contact Surfrider Foundation's Director of Development at 800-743-SURF x. 416 or