IRA Rollover

The charitable IRA rollover, enacted in 2006 and made permanent in December 2015, encourages older Americans to give out of their Individual Retirement Accounts. IRA owners age 70 ½ or older can give up to $100,000 a year from IRA income if the funds are paid directly to a charity. This allows the IRA owner to exclude this from income and make the donation without paying tax on the income. 

If you are a taxpayer who does not normally itemize your deductions it is a winning situation because you don’t get to deduct your contributions anyway. Or, if you are a taxpayer who usually itemizes it may leave you ahead by not pushing you into a higher tax bracket due to receiving the IRA income.


Either way it is a win for charities and ultimately our community. If you are interested in rolling over your IRA distribution please contact the Whitefish Community Foundation to plan your gift. You should instruct your financial advisor to make the distribution check out to the Whitefish Community Foundation.  Your gift can be directed in the following ways:


  1. Your Gift can go directly to the Whitefish Community Foundation Endowment Fund. Each year the Foundation’s permanent Endowment Fund provides funding to the Community Grant Programs. A gift to Foundation’s Endowment Fund is a gift that will keep on giving and benefiting our community in perpetuity.

  3. Your Gift can go directly to the Community Grant Programs (Including the Great Fish Match Fund) to benefit over 76 nonprofits and their important programs – a great way to really impact your community.

  5. You can setup a designated fund with your gift with instructions to make gifts to your selected charities each year until the fund runs out. You can also add to this fund with more gifts.

  7. You can designate the entire amount to selected charities and the Community Foundation will send out grants in your name or you can remain anonymous.

  9. You can direct your gift to the Community Foundation as an unrestricted gift and we will use it for the greatest needs which may include funding the programs of the Community Foundation and funding grant programs including the discretionary grant fund that helps nonprofits with unexpected or urgent needs each month.


No matter what your preference, the Community Foundation is here to help you simplify your charitable giving for smart year end tax planning. Remember, it is generally advisable to engage a financial advisor to “run the numbers” before making final decisions.


Call Linda Engh-Grady for more information.
Whitefish Community Foundation