IRA Charitable Rollover - Support Charitable Causes Through Dance Factory
Welcome to Dance Factory, your premier destination for arts and entertainment in the performing arts industry. Our mission is to bring joy and inspiration to audiences through the power of dance. As a proud supporter of charitable initiatives, we are excited to introduce you to the IRA Charitable Rollover program, a unique opportunity to make a positive impact on your favorite causes.
What is the IRA Charitable Rollover?
The IRA Charitable Rollover allows individuals aged 70½ or older to make tax-free donations directly from their Individual Retirement Accounts (IRAs) to eligible charities. This program was introduced as part of the Protecting Americans from Tax Hikes (PATH) Act of 2015, making it easier than ever to support the causes you care about while minimizing your tax obligations.
How Does It Work?
If you meet the age requirement, the IRA Charitable Rollover enables you to transfer funds directly from your IRA to a qualified charitable organization of your choice -- like Dance Factory Foundation. The amount transferred can count towards your required minimum distribution (RMD) and is excluded from your taxable income. It's a win-win opportunity to make a difference in the world and reduce your tax burden.
Benefits of the IRA Charitable Rollover
The IRA Charitable Rollover offers several benefits for donors:
- 1. Tax Advantages: By donating directly from your IRA, you can exclude the distribution from your taxable income, potentially lowering your overall tax liability.
- 2. Support Causes You Care About: Connect with charitable organizations, such as Dance Factory, and contribute to causes that align with your passions and values.
- 3. Simplicity: The process is straightforward and hassle-free, with direct transfers from your IRA custodian to the qualified charity.
- 4. Make a Lasting Impact: Your donation can help support ongoing programs, scholarships, and community outreach initiatives, ensuring a brighter future for the performing arts.
Eligible Charitable Organizations
If you're considering the IRA Charitable Rollover, it's essential to verify that your intended recipient is an eligible charitable organization. Dance Factory Foundation, within the Arts & Entertainment - Performing Arts category, is a qualified charity that supports various initiatives aimed at promoting dance as an art form and enriching the lives of individuals through exceptional performances and educational opportunities.
How to Get Started
To take advantage of the IRA Charitable Rollover program and support Dance Factory Foundation, follow these simple steps:
- 1. Consult Your Financial Advisor: Discuss your intent to make a tax-free donation through the IRA Charitable Rollover with your financial advisor to ensure it aligns with your overall financial strategy.
- 2. Determine Your Eligibility: Ensure you meet the requirements to participate in the IRA Charitable Rollover program, specifically the age and donation limit criteria.
- 3. Contact Your IRA Custodian: Reach out to your IRA custodian or financial institution to initiate the process. They will guide you through the necessary steps to transfer funds to the qualified charity.
- 4. Designate Dance Factory Foundation: Provide your custodian with all relevant details, including Dance Factory Foundation's name, address, and tax identification number, to ensure the proper transfer of funds.
- 5. Enjoy the Impact: Your contribution will make a meaningful difference in supporting Dance Factory's efforts to inspire, entertain, and educate through the art of dance.
Make an Impact Today
Don't miss this incredible opportunity to combine your love for the performing arts with your philanthropic goals. Take advantage of the IRA Charitable Rollover program, support Dance Factory Foundation, and help us continue to make a positive impact on individuals and communities through the transformative power of dance.
Contact us today to learn more about the IRA Charitable Rollover program and explore additional ways you can get involved in supporting the arts and entertainment industry.
