The IRA Charitable Rollover provision allows individuals who have reached the age of 70 1/2 to donate up to $100,000 annually to charitable organizations directly from their individual Retirement Accounts (IRA) without treating the distribution as taxable income. Your gift can be designated toward membership, the Spring Fundraiser, a general contribution, or a Hazak gift.
Individuals may begin taking distributions from their IRAs as early as 59 1/2 but are required to begin taking them at the age of 72.
Your gift must be mailed by December 31 to count for the current tax year.
Donors may not receive any goods or services in return for charitable IRA rollover contributions to qualify for tax-free treatment.
If you are interested in making an IRA Charitable Rollover contribution to KI please contact your IRA trustee (typically a bank or brokerage firm) to complete the necessary forms. Complete your KI membership form and please let the Office know when to expect your payment.
Thank you for your consideration and continued support to our congregation.