The IRA Charitable Rollover is a wonderful way to support the New Israel Fund’s vital work advancing equality and democracy in Israel. It allows you to make gifts of up to $100,000 per year (per individual) to NIF from your IRA. You incur no federal income taxes and the sums count toward your required minimum distribution so long as you meet the eligibility requirements and follow certain rules.
You must be 70½ or older and your IRA administrator or trustee must distribute the funds directly to NIF — not to you first — in order for the gift to be tax free. The gift cannot benefit a donor-advised fund (DAF), and tax-free distributions can be made only from IRAs.
IRA Charitable Rollover gifts are a great way to make your annual gift, or even start your family’s named endowment fund at NIF, creating a legacy that reflects your Israel values.
Please consult with your professional advisor for further information about the rules and regulations of the law and contact Becky Buckwald, Director of Planned Giving, if you need assistance.
Disclaimer: New Israel Fund is not engaged in legal or tax advisory service. Please have your will or codicil drafted by an attorney who is familiar with the estate laws of the state in which you live. State laws govern wills, trusts, and charitable gifts made in a contractual agreement. Advice from legal counsel should be sought when considering these types of gifts.