Support The Cleveland Orchestra with an IRA Distribution
As of December 17, Congress has reinstated the IRA Charitable Rollover for the remainder of 2014. This means that donors age 70 1/2 and older can make a qualified distribution of $100,000 from their IRA through December 31, 2014. This distribution will not be treated as taxable income for 2014.
For eligible tax years, a direct transfer from your IRA to The Cleveland Orchestra can be a great way to make a tax-wise gift.
Please contact Elizabeth Arnett, Manager of Individual and Leadership Giving, for information on how you can make a direct transfer from your IRA to The Cleveland Orchestra.
Or, provide your financial advisor/institution with the following information:
Musical Arts Association
11001 Euclid Avenue
Cleveland, OH 44106
- Musical Arts Association Federal Tax ID Number: 34-0714468
Notify Elizabeth Arnett with the following information:
- Individual Retirement Account Number
- Amount of donation
- The fund to which the donation should be applied (ex: 2014-15 Annual Fund)
- Contact information for desired recipient of acknowledgment
Please consult with your financial advisor to determine your best gift option.
A qualified transfer will count toward your required minimum distribution and be excluded from your gross income.
To qualify for these benefits:
- Your gift must be made directly from your IRA to The Cleveland Orchestra.
- You must be 70-and-one-half years old or older at the time of the gift.
- You may transfer up to a total of $100,000.
- The gift must be outright and cannot be used to create a gift annuity or charitable trust.