Bill was a longtime member and chair of the Scholarship Committee at the Community Foundation. He never had children of his own, but wanted to ensure that Memphis students had access to education. After turning 70½ years old, he directed a direct transfer from his IRA to the Community Foundation Scholarship Fund. He transferred the maximum $105,000 the cap on these direct charitable distributions each year, and Bill did not have to include the distributed amount in his adjusted gross income.
Using the IRA charitable rollover, donors can direct IRA distributions to charitable organizations and to several types of funds at the Community Foundation. This is an option for those donors age 70½ or over. You may also want to make a contribution using an IRA charitable rollover gift.
Email Director of Development Caroline Kuebler or call her at (901) 722-0036 to
learn more.