Do you have an IRA and you are 70 ½? Then you must take the distribution, but what if you don’t need or want the income? You can assign your distribution to the California Council on Science and Technology and avoid the distribution counting towards your taxable income!
Charitably minded taxpayers have enthusiastically embraced the IRA charitable rollover as an opportunity to transfer up to $100,000 each year to charity without it being treated as a taxable distribution.
The requirements and restrictions for making an IRA charitable rollover gift are:
If you meet the above conditions this may be the right gift for you to make if:
If you want to make a qualifying transfer gift, contact your IRA administrator and instruct that person to transfer funds to CCST.