If you are 70½ or older, you can make a charitable gift of up to $100,000 to Samaritan House from your Individual Retirement Account (“IRA”) to meet your 2013 annual minimum required distribution amount without having to include the transfer as income for federal income tax purposes. However, the law allowing this special charitable IRA rollover, or qualified charitable distribution (“QCD”) expires after December 31, 2013.
To complete your charitable gift, transfers must come from your IRA and be paid directly to Samaritan House. If you have retirement assets in a 401(k), 403(b) etc., you must first roll those funds into an IRA, and then you can direct the IRA plan administrator to transfer the funds from the IRA directly to Samaritan House. You cannot use the rollover to fund either life-income gifts (charitable gift annuities, charitable remainder trusts, or pooled income funds), or donor advised funds or supporting organizations.
If you have questions about completing an IRA charitable rollover to Samaritan House before its expiration on December 31, 2013, please contact Samaritan House’s Director of Development, Lynn Nawahine, at firstname.lastname@example.org or 650-523-0825.