IRA Charitable Rollover
An IRA charitable rollover allows individuals 70½ and older to reduce their taxable income by making a gift directly from their IRA.
You may be looking for a way to make a big difference to help further our mission. If you are 70½ or older you may also be interested in a way to lower the income and taxes from your IRA withdrawals. An IRA charitable rollover is a way you can help continue our work and benefit this year. IRA Charitable Rollovers are handled through the Peoria Symphony Orchestra (FEIN# 37-0901338) rather than through the Peoria Symphony Foundation due to private foundation rules.
Benefits of an IRA charitable rollover
- Avoid taxes on transfers of up to $111,000 from your IRA to the Peoria Symphony Orchestra
- Satisfy your required minimum distribution (RMD) for the year
- Reduce your taxable income, even if you do not itemize deductions
- Make a gift that is not subject to the deduction limits on charitable gifts
- Help further the work and mission of our organization
IRA charitable rollover video
How an IRA charitable rollover gift works
- Contact your IRA plan administrator to make a gift from your IRA to us.
- Your IRA funds will be directly transferred to the PSO to help continue our important work.
- IRA charitable rollover gifts help you to avoid ordinary income tax, because of this, they do not qualify for a charitable deduction.
- PLEASE NOTE: IRA Charitable Rollover gifts must be made to the Peoria Symphony Orchestra (FEIN# 37-0901338) and not the Peoria Symphony Foundation.
Contact us
If you have any questions about an IRA charitable rollover gift, please contact us. We would be happy to assist you and answer any questions you might have.
