Breaking News … IRA Rollover Update!

Dec 21, 2015

On December 18, the President signed into law legislation that extends the special IRA rollover incentive for gifts completed in 2015 and future years. By partnering with Friends of the Hennepin County Library, you can take advantage of the IRA Rollover.

The IRA Rollover allows individuals aged 70½ and older to donate up to $100,000 from their Individual Retirement Accounts (IRAs) to charities, like Friends of the Hennepin County Library, without having to count the distributions as taxable income.

Here is what you need to know:

  • Eligibility Age – You may make a charitable IRA rollover contribution if you are 70½ or older at the time of the gift.
  • Gift Limits – You can transfer up to $100,000 directly from your IRA. This opportunity applies only to IRAs and not other types of retirement plans. Charitable contributions from an IRA must go directly to a qualified charity such as Friends of HCL.
  • Timing – This unique opportunity expires at the end of the year. To qualify, you must complete the gift by December 31, 2015.

Give opportunity. Give possibility. Give to our Library and take advantage of the IRA Rollover with Friends of the Hennepin County Library in 2015.

Interested and have questions?  Contact Adam Breininger at 612-543-8106 orabreininger@hclib.org.