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IRA Charitable Rollover: A Great Opportunity

General

Many donors are seeking creative and tax-wise ways of supporting causes they are passionate about in their communities. If you are 70½ or older and have “required minimum distributions” that you must take from your IRA, making a qualified charitable distribution to the Oregon Community Foundation makes a wonderful gift. Distributions of up to $100,000 may be made each year and the amount will count toward your distribution but will not be recognized as income on your tax return.  Instead, it will become a wonderful charitable resource to support your community.

You may have heard that a charitable rollover cannot go into a donor advised fund.  While this is true, OCF offers many other opportunities to create a charitable resource for causes you care about.  You can create or add to a scholarship fund, a designated fund or you can support an area of interest or existing OCF programs:

Scholarship Fund
Creating or adding to a scholarship fund gives you the opportunity to provide much needed support for students seeking post-secondary education.  When you create the fund, you establish criteria that are important to you, for example, some scholarships are specific to high schools or regions, while others support students within specific fields of study. Through the longstanding partnership of OCF and the Office of Student Access and Completion (OSAC), students can complete a single application form to be eligible for these scholarships and others, both public and private.

Designated Fund
You can create a fund to perpetually support specific charitable organizations you are passionate about.  These funds provide stable funding for these organizations, and if one ceases to exist, you can request that OCF make the distribution to a similar charitable organization or to others that you specifically name.

Field of Interest Fund
If you have deeply held interest areas or want to support a specific geographic area, you can create a fund that will supports these causes.

Strategic Initiatives at OCF
OCF also has many projects underway that can be supported by your contribution and we welcome the opportunity to share these with you.

To explore your options, please contact an OCF Philanthropic Advisor at 503.227.6846 or giftplanning@oregoncf.org.