Take Advantage of Your IRA - Richland County Foundation

Take Advantage of Your IRA

November 24, 2021

Make a Gift of a Lifetime
IRA Transfers to the Richland County Foundation

Individuals aged 70 ½ and older can transfer up to $100,000 annually from an Individual Retirement Account (IRA) to the Richland County Foundation without being federally taxed.


~The gift to the Foundation is not included in the IRA owner’s income and—most important—is not taxed, preserving the full amount for charitable purposes.

~The gift from your IRA will count toward your required minimum distribution (RMD) for the year.

~A donation from your IRA of any amount can go into an existing fund at the Foundation.
You can create an endowed fund in your name or in memory of a loved one.

The types of funds that qualify for the tax-free IRA transfers include:
Unrestricted Fund
Field of Interest Fund
Designated Fund
Scholarship Fund

You cannot use an IRA transfer to set up a donor-advised fund.

The minimum amount to set up most funds is $10,000, except for a scholarship fund which has a minimum of $20,000. *(Donor Advised Funds do not qualify for tax-free IRA transfers)

This really is a powerful opportunity for anyone interested in establishing a permanent legacy in this community, this is a chance of a lifetime to make the gift of a lifetime.

If you would like to make a transfer from your IRA to the Richland County Foundation contact Vice President of Finance & Operations Bob Barrett at 419-525-3020 or bbarrett@rcfoundation.org


« Back to Blog