New Nonprofit Backs Permanent Charitable IRA Legislation

FOR IMMEDIATE RELEASE
March 31, 2015

(Washington, D.C.) A group of national leaders in planned giving and philanthropy have formed the Charitable IRA Initiative, a 501(c)(4) nonprofit organization with the sole purpose of encouraging members of the U.S. Congress and the president to enact permanent legislation enabling owners of IRAs to transfer their IRA assets to American charities. IRA rollovers could be outright gifts up to $100,000 per year or life-income agreements up to $500,000/year. There are no income taxes on IRA charitable rollovers.