IRA Charitable Rollover 

The President recently signed H.R. 5771, extending

the IRA charitable rollover for one (1) year,

retroactive for 2014. 

Congress reauthorized the IRA Charitable Rollover, which allows people who are 70 and 1/2 years or older to make direct transfers totaling up to $100,000 per year to the Eau Claire Community Foundation or other qualified charities without having to count the transfers as income for federal income tax purposes.

How it works

• You make a gift of up to $100,000 by transferring IRA assets to the Eau Claire Community Foundation.  You must be at least 70 and 1/2 years old.  If married, each spouse can transfer up to $100,000 from his or her IRA.

• Your gift can be placed into a charitable fund in your name, the name of your family, or in honor or memory of any person or organization you choose.  We handle all administrative details.

• Your gift can be placed into an endowment that is invested and will grow over time.  Grants addressing community needs will be made forever.

• Donor Advised Funds and Supporting Organizations are prohibited, but you can establish a Designated Fund to your favorite charities or your church, a Field of Interest Fund for your favorite cause, or you can give to our Community Fund, which addresses a broad range of current and future needs of our community.

Please contact your retirement administrator or professional advisor for information immediately if you want your tax deduction in 2014.

 Please call the Foundation at 715-552-3801 or email suebornick@eccfwi.org if you have questions.