Your IRA Can Help Barnabas!
There are many ways that you can help Barnabas connect our neighbors in need to help and hope- from volunteering to donating items to our New to You Resale Store. And, for our donors in their 70s-there's a way you can turn your IRA into a wonderful charitable gift with many lasting benefits - both for you and for Barnabas!
It's now permissible to contribute individual retirement account (IRA) assets to charity, free from federal taxes, annually. This continues to be good news because, prior to 2006, all lifetime distributions from IRAs were taxed, even those that were given to charity.
The Pension Protection Act of 2006 (PPA) permitted individuals to roll over up to $100,000 from an IRA account directly to a qualifying charity without recognizing the assets transferred to the qualifying charity as income. Fortunately, in 2015, Congress passed an act to make this unique charitable giving opportunity permanent. Single and married individuals 70.5 and older are eligible to give in this way from their individual retirement accounts.
Your gift will impact our important work of connecting people to help and hope right here in Nassau county! For more information, please contact Tania Yount, Chief Development Officer, at (904) 261-7000 ext. 107 or tyount@BarnabasNassau.org.