IRA Charitable Rollover

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 fund our mission at OLMC and benefit yourself.

Benefits of an IRA charitable rollover

• Avoid taxes on transfers of up to $105,000 from your IRA to our organization
• May 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 Lady of Mount Carmel

How an IRA charitable rollover gift works

1. Contact your IRA plan administrator to send us a gift from your IRA.
2. Your IRA funds will be directly transferred to OLMC.
3. Please note that IRA charitable rollover gifts do not qualify for a charitable deduction.
4. You can designate your desired fund in the memo of the gift.