Congress Has Renewed the Opportunity for Individuals to Give through Individual Retirement Accounts (IRAs) under the Protecting Americans from Tax Hikes (PATH) Act.
For those over age 70½, it is once again possible to make tax-favored charitable gifts from traditional and Roth IRA accounts. On December 18, 2015 legislation was signed into law that makes this opportunity permanent for future years. Amounts given—up to a total of $100,000—will count toward required IRA withdrawal amounts. If you decide to distribute a charitable gift from your IRA, ensure that your IRA's custodian transfers it directly from the IRA to the Chicago Botanic Garden. It is important not to withdraw funds prior to a gift.
Please consult your professional advisor for details and be sure to make your charitable distribution request in time for your gift to be received at the Chicago Botanic Garden by December 31. Your gift may be used to support the Annual Fund, fulfill an existing pledge, or support the Regenstein Learning Campus or Kris Jarantoski Campus.