Your Individual Retirement Account Can Help the Community

Did you know? Your retirement assets can help you become a philanthropist in an easy and meaningful way.

It’s true. Taxpayers who are 70 ½ and up can directly transfer up to $100,000 each year in Individual Retirement Account (IRA) assets to the Hampton Roads Community Foundation without this counting as taxable income. And, this counts toward your required minimum distribution (RMD).

That’s the age you must start taking mandatory annual distributions from your Individual Retirement Accounts.

After decades of diligently putting money into IRAs to grow tax-free, it can be puzzling to figure out how best to use those accumulated assets.

The IRA charitable transfer can benefit you and your favorite nonprofits.

If you’re ready to make an impact in the community, then take a moment to explore options for an IRA charitable transfer through the Hampton Roads Community Foundation.

We have helped donors use their IRA assets to start or add to designated, field-of-interest, scholarship, or unrestricted funds. Please note that for now, the Internal Revenue Service does not allow IRA transfers to donor-advised funds.