The Charitable IRA Rollover | YMCA of Honolulu | Honolulu, Hawai‘i | www.ymcahonolulu.org

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Ways To Give

The Charitable IRA Rollover

Reduce Your Reportable Income While Making a Cash Gift to the YMCA of Honolulu.

When you reach age 70 ½ and have an IRA, you have an annual Required Minimum Distribution. You can use your RMD - and more - to make gifts to charities like the YMCA of Honolulu, without including the withdrawals as income. In December 2015, this became a permanent way you can help to further the work and mission of the YMCA and other charities you support.

How to take advantage of the Charitable IRA Rollover:

  1. Contact your IRA plan administrator and authorize him or her to make a gift from your IRA to the YMCA of Honolulu.
  2. Your plan administrator must make the transfer directly to the YMCA of Honolulu. You can authorize your plan administrator to transfer any amount up to a total of $100,000 every year. Transfers can be made to more than one charity.
  3. You do not declare the charitable distributions as income, so you avoid any taxes you might have to pay on your IRA withdrawals.
  4. The distributions are not subject to the 60% deduction limitations on gifts of cash.
  5. Please note that because you aren’t paying taxes, you don’t receive a charitable deduction.
  6. Please notify the YMCA of your gift and indicate what you would like your gift to support. This is an excellent way to make an annual gift, to pay a pledge to a capital campaign, or to build a named endowed fund over time.
  7. While this only applies to IRAs, you may be able to transfer funds from a 401(k) or 403(b) retirement account to an IRA, and then ask your plan administrator to make distributions to charity.
  8. Stay tuned! Legislation has been introduced in Congress that would allow rolling over funds from an IRA to a charitable life-income plan. This would allow you to increase your retirement income AND make future gifts to the YMCA!

For more information on this outstanding opportunity, please contact, in confidence, Kerri Van Duyne, Vice President of Development, at (808) 541-5473 or kvanduyne@ymcahonolulu.org.

Because everyone’s situation is different, The Y encourages you to seek professional legal, estate planning, and financial advice before deciding on a course of action. This information does not constitute legal or financial advice and should not be relied upon as a substitute for professional advice.