IRA Contributions

IRA Rollover Contribution

In December 2015, Congress passed legislation permanently extending tax benefits for seniors age 70½ or older. This law allows you to roll over up to $100,000 from an IRA directly to a qualified nonprofit such as the Central Piedmont Community College Foundation without increasing your taxable income. Known as a qualified charitable distribution (QCD), the rollover gift also satisfies the required minimum distribution (RMD) for the year.

Benefits of an IRA contribution are threefold:
• You can fulfill charitable year-end gifts from RMD without increasing taxable income.
• These tax-free rollover gifts can be $1,000, $10,000, or any amount up to $100,000.
• Your gift ensures educational opportunities for Central Piedmont students

For more information on making an IRA contribution to Central Piedmont, contact Brenda Lea at 704.330.6869.