Did you know that donors who take advantage of IRA charitable rollovers can increase their financial investment in the National Museum of the United States Army? Did you also know that the Protecting Americans from Tax Hikes (PATH) Act of 2015 made IRA charitable rollovers permanent? Both these facts are great news for those who wish to participate in planned giving to benefit the National Army Museum.
Now, tax-free distributions from IRA accounts—up to $100,000 a year—to qualified charitable organizations, including the Army Historical Foundation (AHF), can be made by eligible persons age 70 1⁄2 and older. In addition to being tax-free and not included in gross income, an IRA charitable rollover may fulfill part or all of a person’s yearly required minimum distribution (RMD). Only traditional IRAs and Roth IRAs can be the source of such tax-free transfers, and only Roth IRAs must have been open for at least five years and meet other conditions.
Donors who take advantage of IRA charitable rollovers can increase their financial investment in the Museum, which positively impacts AHF’s mission and the Museum project and may reduce donors’ adjusted gross income on tax returns. By supporting AHF and the Museum project through planned giving like IRA rollovers, you help open the doors for millions of visitors to learn about the founding of our nation and more than 240 years of our Army’s history.