IRA Rollover Gift Helps Charitable Dollars Go Further 
Janice Haunschild first began helping foster children while volunteering for Oklahoma County Child Welfare Services. Since 1986, the volunteer program has provided resources such as school supplies, clothing and mentoring services for children in foster care. Through her involvement, she became aware of the need for support of youth who were aging out of the foster care system.

"When a child in foster care turns 18, they are often on their own with no guidance or assistance for college," Janice said.

When the Oklahoma Youth With Promise scholarship for students in foster care was established at the Oklahoma City Community Foundation, she knew it was the perfect fit for her charitable gifts.

"At age 70 ½, I was required to take a minimum distribution from my IRA," Janice said. "By planning ahead each year for an IRA Charitable Rollover gift, it helps our charitable dollars go further. It just makes financial sense and allows us to support scholarships for students who were in foster care."

The Oklahoma City Community Foundation can help individuals age 70 ½ or older make an IRA Charitable Rollover gift up to $100,000 annually. The gift fulfills the annual required minimum distribution and is not subject to income taxes. While IRA Charitable Rollover gifts cannot support advised funds, the gifts can be designated to support scholarships, charitable organization endowments or specific charitable fields of interest. Visit or call Joe Carter at 405/606-2914 to learn more.

Kim is age 70 ½ and needs to start taking required minimum distributions from her retirement accounts. Using the IRA Charitable Rollover, she knows she can make a tax-free transfer from her IRA to charity and have it count as her RMD. However, she's also considering withdrawing the money and making a charitable donation on her own. Assuming she itemizes deductions, wouldn't the latter of the two options have the same effect?

Learn which is the better option for Kim and the variety of reasons why it's more beneficial here.

Ah. The end of the year. The last few months of the year is a time when many people are searching for ways to combine their desire to help the causes they believe in with their desire to save on taxes. If your clients are still looking to make the most of 2017, here are five strategies to consider to receive an increased tax benefit for charitable contributions.  

Upcoming Events
Do you want to increase your knowledge and skills in your profession and better serve your clients? Do you want insight that will benefit your clients immediately? This free luncheon through the Oklahoma City Community Foundation and the Cannon Financial Institute helps you make it happen!

Join us for the next Cannon Estate Planning Lunch & Learn on October 17, 2017.

Oct. 17
Don't Overlook the Power of Powers

Registration now open

Nov. 7
Protecting Beneficiaries from Themselves and Others

Dec. 5
Trying Too Hard to Do Too Much: Ethics Traps for the Good Samaritan

Registration for each event will open online following the prior month's teleconference.

The 2018 Cannon Estate Planning Lunch & Learn series dates are now available here!

( Note: In May, we began construction on a building addition that, once complete, will allow us to offer more public meeting space. Unfortunately, the construction will temporarily bite into some of our park-ing space. If you arrive to the Cannon Estate Planning Lunch & Learn and cannot find parking, the clos-est available garage is 123 Garage and is located directly to our west at 123 NW 10th St. The cost to use the parking garage is $5. Thank you for understanding.)     

Joe Carter
Director, Development