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Performing Arts Alliance
Performing Arts Alliance
Issue Center

Extend the IRA Charitable Rollover

The IRA Charitable Rollover Provision will expire in December 2009.  On April 22nd, Senator Byron Dorgan (D-ND) introduced the Public Good IRA Rollover Act, S.864.  S.864 is the Senate companion bill to H.R.1250, introduced by Reps. Earl Pomeroy (D-SD) and Wally Herger (R-CA) and would build on the success of the current IRA rollover by making it permanent, removing the current dollar limit on donations per year, making all charities eligible to receive donations, and providing IRA owners with a planned giving option starting at 59 1/2.  By raising your voice, you will effectively join thousands of other advocates in the arts and broader nonprofit community calling for Congress to support the Public Good IRA Rollover Act.  Please contact your Member of Congress today! 

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Talking Points

  • The IRA Charitable Rollover allows a donor who has reached age 70 1/2 to transfer IRA funds directly to a charity without incurring income tax on the transfer.
  • An increase in giving will expand charitable services and provide a net benefit to the public.
  • Ticket sales and admission fees alone do not come close to subsidizing artistic presentations, educational offerings, and community-based programming of nonprofit arts organizations.
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