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 70 1/2 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 70 1/2 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? Email Michael Hicks, Director of Development, or call (775) 323-6393.