IRA Charitable Rollover
If you are age 70½ or older and have an eligible IRA (individual retirement account), there's a special way for you to support the public programming that we all enjoy.
It's called an IRA Charitable Rollover, and it’s a tax device that allows you to make a donation from your IRA every year while also lowering your overall tax burden.
When you make a donation to Louisville Public Media in this way, it counts towards your required minimum distribution from your IRA. Because the distribution is not counted as income, you can make the distribution without paying taxes on it.
So, how does this work?
- Contact your IRA plan administrator to make a gift from your IRA to us.
- Your IRA funds will be directly transferred to our organization to help continue our important work.
Please note that IRA charitable rollover gifts do not qualify for a charitable deduction on Schedule A.
Please contact us if you want your gift to be used for a specific purpose.
What are the qualifications?
- Must be 70½ years old or older and have an eligible IRA.
- Rollover cannot exceed $100,000 ($200,000 for couples).
- Rollover must go directly to a charity and not to a supporting foundation (no donor-advised funds or private foundations).
- Rollover must be made from traditional individual retirement account or ROTH IRA. No 403(b) or 401(k) plans, no pension plans, or other retirement plans are eligible for this tax-free option.
- You cannot receive any goods or services in return for your charitable IRA rollover.
Contact your IRA plan administrator to make a gift from your IRA to us, and continue fueling real, tangible impact in this community.
For cash gifts, direct your administrator to make your gift to:
Louisville Public Media
619 S 4th St
Louisville, KY 40202
For stock, direct your administrator to transfer securities to our account at
Kentucky Public Radio Inc
Tax ID #61-1259787
If you are making an IRA charitable rollover gift, or if you have any questions about how to do so, please contact your financial advisor or our membership department at firstname.lastname@example.org.
Find more ways to support LPM here.