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Charitable IRA Rollover

The Charitable IRA Rollover, originally enacted in 2006 and now made permanent by Congress, makes it easier for you to use IRA assets, during lifetime, to make charitable gifts.  This special provision allows certain donors to exclude from taxable income—and count toward their required minimum distribution—transfers of IRA assets made directly to public charities, like Bishop John A. Marshall School. (Without this legislation, withdrawals from IRAs are taxed as income, even if the distributions are then distributed to charity.  Certain tax rules can prevent the charitable deduction from fully offsetting the taxable income.)

The Charitable IRA Rollover requires the following:

  • Your distribution must be made directly from your IRA account to a qualified charitable organization (like Bishop John A. Marshall School) and received by Bishop John A. Marshall School by December 31.
  • You must be age 70 ½ or older;
  • Your distribution may not exceed $100,000 and must be from a traditional IRA or Roth IRA.

Your gift may be used for general or specific purposes you designate.

To learn more about making a Charitable IRA Rollover or to notify us of your planned gift, please contact: Michelle Tomlinson, Development Coordinator at mtomlinson@bjams

Bishop John A. Marshall School does not provide legal or tax advice. Please consult your professional advisor prior to entering into any planned giving arrangement.