On January 1, 2013, Congress passed the American Taxpayer Relief Act of 2012 (ATRA).  The bill included a number of provisions that were favorable for philanthropy and charitable giving.  On December 18, 2015, the Protecting Americans from Tax Hikes (PATH) Act, was signed into law. Among the Act’s many provisions is the permanent provision allowing charitable gifts from Individual Retirement Accounts.

This “charitable IRA rollover” allows individuals age 70½ or older to transfer up to $100,000 annually from their IRA accounts directly to charity without first having to recognize the distribution as income. Gifts of IRA distributions can be made directly from the IRA to the Foundation.