GREAT NEWS: HAVE YOU ALWAYS WANTED THE OPPORTUNITY TO INVEST IN CHANGING PEOPLE’S LIVES AND ACHIEVING YOUR PHILANTHROPIC GOALS?
The Charitable IRA Rollover is the answer. Individuals who are 70 ½ years of age or older may direct their charitable contributions from their traditional IRA to eligible charitable organizations (Montgomery County Foundation, Inc. is eligible). Individuals are permitted to roll over up to $100,000 from an individual retirement account (IRA) to a qualified charity without recognizing the assets transferred to the qualifying charity as income. On December 18, 2015 the President signed the PATH ACT making this provision permanent.
Distributions to The Montgomery County Foundation, Inc. are eligible. So you can make a direct transfer to the Foundation by establishing a donor designated fund, a scholarship fund, an agency endowment fund or your gift to the Foundation can be an unrestricted gift that supports the work of the Foundation. (You cannot donate to a donor advised fund.)
Please check under “News Update” for changes to IRA Rollover and Philanthropy in general.
Donors should call The Montgomery County Foundation, Inc. for more details and for details for establishing funds. Call 484-532-7387.
Donors must instruct their IRA Trustee to make the contribution directly to the Foundation.
The Montgomery County Foundation, Inc. is a 501(c)3 nonprofit public charity.
The official registration and financial information of The Montgomery County Foundation, Inc. may be obtained from the Pennsylvania Department of State by calling toll-free, within Pennsylvania, 1-800-732-0999. Registration does not imply endorsement. The Pension Protection Act of 2006 requires that we notify you that The Montgomery County Foundation, Inc. has exclusive legal control over the contributed assets.