A special incentive for giving
What? A gift that improves your community and reduces your 2017 taxes?
Let’s talk about a great deal for you and your community! When IRA owners reach the age of 70 and a half, they are required to take a minimum distribution from their account every year. A new provision allows account owners to direct transfers up to $100,000 each year to qualified charities without treating the distribution as taxable income.
Qualified IRA Charitable Rollover gifts to the Community Foundation can go to any charity of the donor’s choice through a designated, community impact or field of interest fund based on their charitable goals.
But here’s more good news! To encourage IRA gifts, Arkansas Community Foundation is offering a special incentive. A dollar for dollar match will be provided for IRA charitable rollover gifts made to our Hot Springs Area Giving Tree Endowment Fund prior to June 2018. The Arkansas Community Foundation has allocated a statewide match pool of $50,000 on a first come first serve basis now through June 2018. For example, if you gifted $2,500 as a nontaxable Charitable Rollover gift, a total of $5,000 would be added to the Hot Springs Area Giving Tree Endowment to be used for distributing grants for charitable purposes that provide solutions to make our community a better place to live, work and visit.
The Hot Springs Area Giving Tree is a permanently invested endowment managed by Arkansas Community Foundation. Nonprofits serving our community submit grant applications through a formal process, and grant selection is overseen by a broad and inclusive representation of community members who have the benefits of your community in mind. Our next grant cycle begins in early January 2018.
Don’t miss out on this opportunity to support the collective strength of our community! Pooling your funds with others allows the Community Foundation to further leverage and increase the impact to others. Designate your IRA charitable rollover to the Giving Tree Endowment and qualify for a dollar for dollar match, improve your community and reduce your taxes, all at the same time!
Ready to talk? Call Joyce Whitfield at 501-620-4008, or email me at hotspringsarea@arcf.org. Let’s work together to make a difference and serve the needs of our community.