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Maximize Your Impact with an IRA Charitable Rollover

By donating through your IRA, you can make a significant impact while enjoying unique tax benefits.

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Why Donate Through an IRA Charitable Rollover?

IRA charitable rollovers offer several advantages that make them an excellent choice for donors aged 70½ or older.

  • Tax Benefits: Donations made directly from your IRA to Elk Hill can be excluded from your taxable income, helping you lower your overall tax bill.

  • Satisfy RMDs: If you are required to take minimum distributions (RMDs) from your IRA, these donations can count towards your RMDs, potentially reducing your taxable income.

  • Generosity Without Cash Outlay: This option allows you to make a meaningful gift without impacting your cash flow, as the funds come directly from your IRA.

How to Donate Through an IRA Charitable Rollover

  1. Contact Your IRA Administrator: Inform your IRA administrator that you would like to make a qualified charitable distribution (QCD) to Elk Hill. They will provide the proper form for you to use.  Our contact information is:

     

         Name: Elk Hill Farm, Inc. 

         Tax ID Number: 23-7071154

         Address: PO Box 99, Goochland, VA 23063

   

    2. Specify the Amount: You can donate up to $100,000 per year from your IRA without having to pay income          taxes on the money.

   

    3. Notify Us: To ensure we acknowledge your generosity appropriately and direct your gift according to your          wishes, please inform us once you have recommended a grant. Contact Kathleen Lefcourt at                                philanthropy@elkhill.org or 804-457-4866 x310.

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