President Obama and Congress have made the IRA charitable rollover law that will remain in effect for 2016 and beyond.
If you are a donor 70 ½ or older you are now eligible to transfer up to $100,000 directly from an individual IRA to The Scholarship Fund for Inner-City Children without having to pay income tax on the money. This transfer will count as the minimum required distribution from an IRA account for the donor.
Contact your IRA provider and tax adviser for questions specific to your plan.
contact Gerry O’Connor, SFIC Executive Director, at (973) 497-4279
Thank you for making The Scholarship Fund for Inner-City Children on your list of philanthropic priorities.