IRA/Retirement Gifts » Using Your IRA

Using Your IRA

If you are age 70 ½ or older, you can make an ‘IRA Charitable Rollover’ gift from your IRA account to North Catholic without any federal income tax liability.


Here is how it works:

  • Instruct your IRA administrator to make a gift directly from your IRA to North (ask us for a sample letter of instruction)
  • IRA Rollovers DO count towards your required minimum distribution (RMD) for the year (although RMDs are temporarily suspended under the CARES Act)

There are some considerations:

  • The gift is not subject to income tax therefore it is not tax deductible (which is effectively the same as a 100% deduction)
  • Gifts may be outright contributions only
  • You may make up to $100,000 in charitable gifts annually from your IRA