Tax-free IRA charitable rollover signed into permanent law

On Monday, Dec. 21 President Obama signed the PATH Act, making the tax-free IRA Charitable Rollover permanent law.

How it works

  • People age 70 1/2 or older can make a gift of up to $100,000 by transferring IRA assets to the Kalamazoo Community Foundation. If married, each spouse can transfer up to $100,000 from their IRA.
  • IRA transfer gifts can create or contribute to an Unrestricted, Field-of-Interest, Designated or Scholarship Fund. Unfortunately, transfers to create or contribute to Advised Funds are not allowed.
  • These gifts become part of a permanent endowment, which means they'll help make Kalamazoo County a place where every person can reach full potential forever.

The bill makes the tax-free IRA rollover retroactive to December 31, 2014, which means gifts transferred directly from a donor's IRA to us at any point during 2015 will qualify as a rollover gift.

If you have questions or want to take advantage of this opportunity, please don't hesitate to get in touch with a member of our Donor Relations team.

Get Our News