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Planned Giving

Make a Tax-Free Gift with an IRA


If you are 70½ years old or older, you can take advantage of a simple way to benefit the Catholic Diocese of Baton Rouge and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity such as ours without having to pay income taxes on the money. This law no longer has an expiration date, so you are free to make annual gifts to our organization this year and well into the future.

Read more . . .

And, for additional information concerning Diocese of Baton Rouge Planned Giving options, please visit the “Plan My Legacy” page through the Office of Stewardship website:http://officeofstewardship.planmylegacy.org

A Tax-Saving Way to Help the Diocese of Baton Rouge


See Your Generosity in Action

If you are 70½ years old or older, you can take advantage of a simple way to benefit the Catholic Diocese of Baton Rouge and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity such as ours without having to pay income taxes on the money.

This law no longer has an expiration date, so you are free to make annual gifts to our organization this year and well into the future.

Why Consider This Gift

  • Your gift will be put to use today, allowing you to see the difference your donation is making.
  • You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
  • If you have not yet taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.

Frequently Asked Questions

Q. I've already named the Catholic Diocese of Baton Rouge as the beneficiary of my IRA. What are the benefits if I make a gift now instead of after my lifetime?
A. By making a gift this year of up to $100,000 from your IRA, you can see your philanthropic dollars at work. You are jump-starting the legacy you would like to leave and giving yourself the joy of watching your philanthropy take shape. Moreover, you can fulfill any outstanding pledge you may have made by transferring that amount from your IRA as long as it is $100,000 or less for the year.

Q. I'm turning age 70½ in a few months. Can I make this gift now?
A. No. The legislation requires you to reach age 70½ by the date you make the gift.

Q. I have several retirement accounts—some are pensions and some are IRAs. Does it matter which retirement account I use?
A. Yes. Direct rollovers to a qualified charity can be made only from an IRA. Under certain circumstances, however, you may be able to roll assets from a pension, profit sharing, 401(k) or 403(b) plan into an IRA and then make the transfer from the IRA directly to the Catholic Diocese of Baton Rouge. To determine if a rollover to an IRA is available for your plan, speak with your plan administrator.

Q. Can my gift be used as my required minimum distribution under the law?
A. Yes, absolutely. If you have not yet taken your required minimum distribution, the IRA charitable rollover gift can satisfy all or part of that requirement. Contact your IRA custodian to complete the gift.

Q. Do I need to give my entire IRA to be eligible for the tax benefits?
A. No. You can give any amount under this provision, as long as it is $100,000 or less this year. If your IRA is valued at more than $100,000, you can transfer a portion of it to fund a charitable gift.

Q. I have two charities I want to support. Can I give $100,000 from my IRA to each?
A. No. Under the law, you can give a maximum of $100,000. For example, you can give each organization $50,000 this year or any other combination that totals $100,000 or less. Any amount of more than $100,000 in one year must be reported as taxable income.

Q. My spouse and I would like to give more than $100,000. How can we do that?
A. If you have a spouse (as defined by the IRS) who is 70½ or older and has an IRA, he or she can also give up to $100,000 from his or her IRA.

 

It is wise to consult with your tax professionals if you are contemplating a charitable gift under the extended law. Please feel free to contact Tammy V. Abshire, CFRE at 225-242-0108 or  This email address is being protected from spambots. You need JavaScript enabled to view it.  with any questions you may have.

Stewardship Today is a monthly devotional newsletter designed to assist Catholics everywhere in developing a greater understanding of the role of stewardship in everyday life.
All we are, and all we possess, are gifts from God for our use and for the blessing of others. Through wise stewardship, we invest our time, our talents and our treasures to the glory of God.

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