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IRA “Rollover” Donations—The Best Holiday Gift of All
This holiday season, consider making a charitable “Rollover” gift to The Arc NLC from your Individual Retirement Account (IRA) by December 31st. In addition to the incredible impact made on the lives of people with IDD, this type of gift has many advantages for donors.

Image result for happy holiday family grandparents photoIt’s Easy! Just contact your IRA Administrator and they do the rest
As you know, the IRS requires taxpayers over age 70 ½ to take a Required Minimum Distribution (RMD)from their IRAs each year. This adds “taxable income” to your annual income tax return – increasing the amount of taxes you pay at the end of the year. However, by donating your RMD to The Arc NLC (rather than cash), you can minimize your overall tax liability.

You can make a distribution of up to $100,000, which is automatically omitted from your adjusted gross income (AGI). This means the tax benefit from a rollover distribution can be realized by anyone regardless of whether you take the standard deduction or itemize your deductions.
A direct reduction to your AGI has a ripple effect on your overall tax liability that can yield additional tax benefits, including increasing other potential itemized deductions and potentially reducing your state income tax liability.

But don’t wait!
The distribution MUST be made directly to The Arc NLC by December 31. Contact your IRA administrator as soon as possible to allow enough time for them to issue your gift before the end of December. 
For more information on how to make a Qualified Charitable “Rollover “Distribution to The Arc NLC, please contact Terrence Hickey, CFO at (860) 889-4435 x 101 or thickey@thearcnlc.org.

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Call Denise Tift
Director of Community Life & Advocacy
860.889.4435 x 110
or email Denise
dtift@thearcnlc.org

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Call Penny Newbury
Director of Development
860.889.4435 x 103
or email Penny
pnewbury@thearcnlc.org