IRA Charitable Rollovers
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You can help leave a legacy for future generations using your IRA! If you are 70½ or older, you can make a donation directly from your IRA to the Let Westside Play Fund!
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IRA Charitable Rollover Instructions
If you are age 70 ½ or older, with a traditional IRA, you are eligible to make a donation to the Westside PTO directly from your IRA. Generally speaking, IRA gifts are tax free. Many of our supporters are turning to these tax-wise gifts to increase their impact. Those who need to fulfill a Required Minimum Distribution (RMD) can support our mission while lowering their tax burden.
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Here is a downloadable IRA Rollover Instruction form for your Plan Administrator.
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Important to remember:
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You must be 70 ½ years or older at the time of the distribution from your IRA to qualify.
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Depending on the year you were born, either at age 72 or age 73 and beyond, your gift distribution qualifies toward your calendar year required minimum distribution (RMD).
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Your total non-taxable yearly distribution to one or more qualified 501c3 charities, including the Westside PTO, is limited to $100,000 each calendar year.
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You will need to contact your IRA Plan Administrator and request they distribute the rollover amount directly to Westside PTO and specify if you would like to be acknowledged for the gift.
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The check issued from your IRA must be made payable to the Westside PTO.
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The transfer of your IRA distribution must be made directly by your plan administrator to Westside PTO by December 31 to qualify for that tax year.
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For further information, please get in touch with:
Thomas Veazey, Fund Manager, tveazey10@gmail.com
Our Mailing Address:
Westside PTO
3685 Belmont Drive
Hood River, Oregon 97031
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This information is not intended as financial or legal advice. Please consult with your own personal tax advisor for advice and further details.