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Sunday May 27, 2018
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Act now to take advantage of IRA Charitable Rollover for 2014!

The Charitable IRA Rollover is now law. Due to the short window in which you can complete an IRA Charitable Rollover, we thought it important to share this information with you immediately.

The provision allows individuals age 70½ or older to make tax-free gifts totaling up to $100,000 from a traditional IRA account directly to the Diocese of Yakima, provided they are completed by 12/31. If your spouse has IRA accounts, you may each make gifts of up to $100,000 from these accounts. While you cannot claim a charitable deduction for IRA gifts, this distribution from your IRA counts toward your minimum required distribution for the account and does not trigger income tax for you. It is a tax-free transfer from the IRA account directly to the Diocese of Yakima.

In order to complete an IRA Charitable Rollover for 2014, please contact your IRA provider for exact instructions. Such transactions usually take a few weeks, but the provider should be able to fast-track such a transaction because Congress and the President acted so late this year. Here's a sample letter of instruction that you can edit and send to your IRA provider. Your provider should tell you the best way to send the letter of instruction so it can be processed in time.

If you need additional assistance, please contact Alma Benitez, Director of Stewardship and Development at (509) 965-7117 or see contact information below for Central Washington Catholic Foundation and Catholic Charities of Yakima. If you do plan to complete an IRA Charitable Rollover for the Diocese of Yakima please let us know so that we can look for it. Thank you for considering a gift to support our work this year. Your dedication and support are sincerely appreciated.

As a reminder, the IRA rollover provision excludes IRA transfers to fund charitable gift annuities.

The material presented is not offered as legal or tax advice.

Questions? Concerns?

We're here to help:

Diocese of Yakima

Alma Benitez, Director of Stewardship and Development
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: (509) 965-7117

Bill Alsdurf, Chief Finance Officer
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: (509) 965-7117

Website: http://yakimadiocese.org

 

Central Washington Catholic Foundation

Daniel C. Fortier, Executive Director
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: (509) 972-3732

Website: http://www.cwcatholicfoundation.org

 

Catholic Charities of Yakima

Steve Wilmes, Director of Development
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: (509) 759-7780

Website: http://www.ccyakima.org

"As each one has received a gift, use it to serve one another as good stewards of God's varied grace" (1 Pt 4:10).