MTI-IRA-Charitable-Rollover-Planned-Giving

Medical Teams International is a 501(c)(3) charitable organization. Our federal tax ID number is 93-0878944.


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IRA Charitable Rollover

Are you looking for a way to make a big difference by helping people in need?

If you are age 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 an excellent way for you to help serve people affected by disaster, conflict, and poverty.

As of December 15th, 2015, Congress has agreed to enact the IRA Charitable Rollover provision for the tax code. Further, the provision will be retroactive to January 1, 2015, and will now be a permanent provision.

Benefits of an IRA charitable rollover

  • Avoid taxes on transfers of up to $100,000 from your IRA to our organization in any calendar year
  • Satisfy your required minimum distribution (RMD) for the year
  • An IRA withdrawal / charitable transfer does not increase your Adjusted Gross Income (AGI)
  • Reduce your taxable income, even if you do not itemize deductions
  • Make a gift that is not subject to the 50% deduction limits on charitable gifts
  • IRA charitable rollover may also avoid State income tax

How an IRA charitable rollover gift works

  • Contact your IRA plan administrator to make a gift from your IRA to Medical Teams International.
  • Your IRA gift transfers directly from your IRA to MTI with no tax consequences.
  • Please note that IRA charitable rollover gifts are not added to your income and so do not qualify for a charitable deduction from income tax.

Taking Action

If you are age 70-1/2 or older, taking action and reaping the benefits is easy. Simply contact your IRA Custodian (usually the financial services company that manages your IRA) and let them know you wish to make a qualifying IRA Charitable Rollover gift. They will be able to handle the entire process for you.

Once again: To meet IRS regulations, make sure funds are sent directly from your IRA custodian to Medical Teams International.  Make sure you discuss any IRA-related actions with your CPA, Financial or Professional Tax Advisor. Medical Teams International does not provide tax advice and encourages you to contact your professional tax advisor before acting.

Contact Us Today

If you have any questions or would like more information, please contact Diana Burke at 503.624.1009 or dburke@medicalteams.org.

Remember: Gifts can be made any time throughout the year and in future years without expiration.