The IRA Charitable Rollover is a great way to support The Abraham Initiatives’ crucial work building a shared, equal society in Israel. It permits you to donate up to $100,000/year (per individual) to The Abraham Initiatives from your IRA. You incur no federal income taxes and the sum counts toward your required minimum distribution as long as you meet the eligibility requirements and follow certain rules:
- You must be 70 ½ or older, and your IRA administrator or trustee must distribute the funds directly to The Abraham Initiatives (not to you first) in order for the gift to be exempt from tax. The gift cannot benefit a donor-advised fund, and tax-free distributions can be made only from IRAs.