Make a Gift Tax-Free With An IRA

If you are 70½ years old or older, you can take advantage of a simple way to benefit the Jewish Federation of Palm Beach County and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity such as ours without having to pay income taxes on the money.

This law no longer has an expiration date so you are free to make annual gifts to the Jewish Federation of Palm Beach County and any of its partner agencies this year and well into the future.

Why Consider This Gift?

  • Your gift will be put to use today, allowing you to see the difference your donation is making.
  • You can pay an existing pledge or pre-pay multiple years of giving.
  • You can establish an endowment fund such as a Lion of Judah or Annual Campaign Endowment.
  • You can satisfy a capital pledge.
  • You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
  • If you have not yet taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.

Frequently Asked Questions for the Charitable Rollover

I've already named the Jewish Federation of Palm Beach County as the beneficiary of my IRA. What are the benefits if I make a gift now instead of after my lifetime?
I'm turning age 70½ in a few months. Can I make this gift now?
I have several retirement accounts—some are pensions and some are IRAs. Does it matter which retirement account I use?
Can my gift be used as my required minimum distribution (RMD) under the law?
When do I need to make my gift?
Do I need to give my entire IRA to be eligible for the tax benefits?
I have two charities I want to support. Can I give $100,000 from my IRA to each?
My spouse and I would like to give more than $100,000. How can we do that?
Can I use the transfers to fund life-income gifts such as charitable remainder trusts or charitable gift annuities?

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  1. Contact the Jewish Community Foundation at 561-242-6639 or jcf@jewishpalmbeach.org for additional information on giving an IRA gift.
  2. Seek the advice of your financial or legal advisor.
  3. Ask your IRA administrator about making a direct transfer to the Jewish Federation of Palm Beach County or have the administrator send a check from your account to us. (To be tax free, the donation must go directly from your account to the Jewish Federation of Palm Beach County without passing through your hands.)

Legal Name: Jewish Federation of Palm Beach County, Inc.
Address: 1 Harvard Circle, Suite 100, West Palm Beach, FL 33409

A charitable bequest is one or two sentences in your will or living trust that leave to the Jewish Federation of Palm Beach County a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to the Jewish Federation of Palm Beach County, a nonprofit corporation currently located at 1 Harvard Circle, Suite 100, West Palm Beach, FL 33409, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is a separately identified fund created by a donor with the Jewish Federation of Palm Beach County as a cost effective and efficient way to give charitably. The donor retains the right to make recommendations for distributions from the fund.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Jewish Community Foundation as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Jewish Community Foundation as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and the Jewish Federation of Palm Beach County where you agree to make a gift to the Jewish Federation of Palm Beach County and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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