IRA Charitable Rollover

Tax-wise way to support Shelburne Farms using your traditional IRA or Roth IRA

If you are 70½ years old or older, there is a simple way to support Shelburne Farms and receive tax benefits. You may direct up to $100,000 from your retirement account to Shelburne Farms, without having to pay income taxes on the money.

After several years of short-term authorization, the IRA Charitable Rollover has been made permanent. So, as you plan your minimum required distributions for this year, if you do not need the money the government is requiring you to take, consider using the IRA Charitable Rollover to make a charitable gift to Shelburne Farms.

If you qualify, this is a tax-wise way to support Shelburne Farms now and into the future. Your gift will be put to use today, allowing you to see the difference your donation is making.

To qualify:

  • You must be age 70½ or older at the time of the gift.
  • Transfers must be made directly to Shelburne Farms from a traditional IRA or Roth IRA account by your plan administrator. Funds withdrawn by you and then contributed do NOT qualify. Gifts from 401k, 403b, SEP and other plans do not qualify.
  • Gifts must be outright. Distributions to donor-advised funds or life-income arrangements such as charitable remainder trusts and charitable gift annuities are not allowed.

Benefits — qualified charitable distributions

  • 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.
  • You may contribute to one or more qualified charities; the total amount you may distribute in one year to all charities is $100,000.
  • Distributions to qualified charities are not included in your gross income for federal income tax purposes on your IRS Form 1040 (no charitable deduction is available, however).
  • Count towards your minimum required distribution for the year from your IRA.

Thank you for considering this tax-wise way of supporting the mission and work of Shelburne Farms!

For more information, please contact Sue Dixon, Special Gifts Coordinator, 802-985-0322.