The IRA Charitable Rollover was signed into law in December 2015 and is now permanent, allowing you to plan your charitable giving and providing a method to support your Reno Phil.
The charitable IRA distribution allows taxpayers who are 72 years or older to make tax-free distributions of up to $100,000 per year from a Traditional IRA or Roth IRA (other retirement plans do not apply) directly to the charity.
IRA Gift Rules/Requirements
You must be 72 years or older
Money must be transferred directly to the Reno Phil
Individuals may contribute up to $100,000 per year
No good or services may be received for the donation
You do not realize any taxable income on the transfer, and you cannot claim an income tax deduction for the gift
How to Make a Gift
Consult your financial advisor to make a direct distribution to the Reno Philharmonic Association. A letter of instruction with sample language is available here.
Instruct your advisor to send the distribution check to the following address:
Reno Philharmonic Association
925 Riverside Drive, Suite 3
Reno, NV 89503
Instruct your IRA advisor to identify you as the IRA account owner/donor by including your name and address on its cover letter.
Notify the Reno Phil when you make a rollover gift. Contact information below.
The Reno Phil is a registered 501 (c)(3) nonprofit organization in Nevada. Tax ID# 94-2762076 Questions? Call (775) 323-6393.