IRA Charitable Rollover
Congress approved legislation permanently allowing you to make tax-free charitable gifts from your IRA. You don’t report this as income so there is no tax. And, your gift goes towards all or part of your minimum distribution requirement. You benefit even if you do not itemize your tax deductions.
Who qualifies? Individuals who are 70-½ or older.
What accounts may I transfer from? Your gift must come directly from your IRA – either Roth or traditional – to San Francisco Opera. This opportunity does not apply to other retirement plans, such as 401(k) and 403(b) accounts. It may be helpful to ask how your funds will be transferred; each IRA provider has its own requirements.
How much may I transfer? Any amount up to $100,000 per year, total, from any and all IRA accounts.
Which organizations qualify to receive IRA rollovers? Charities such as San Francisco Opera Association that are tax-exempt and classified as 501(c)(3) organizations.
How do I make an IRA Charitable Rollover?
- Simply contact your IRA provider to make your gift. You may need to provide them with our Tax ID number, which is 94-0836240.
- Ask your IRA provider if they need from you a letter of authorization, an IRA distribution form, or both.
- Click here if you would like a copy of a letter of authorization to send to your IRA provider.
- Make sure to contact us at (415) 565-3212 when you make your gift as some IRA providers do not list the donor’s name along with the check. Checks should be made payable to San Francisco Opera Association.
Questions? Contact Kyle J. Polite, Direct of Principal Giving, at firstname.lastname@example.org or 415.551.6226.