You may name the Orange County Council, Boy Scouts of America as a beneficiary on a life insurance policy or retirement plan like an IRA.
Check with your tax adviser regarding tax-free distributions to a charity from your Individual Retirement Arrangement (IRA) held by someone age 70 1/2 or older.
An IRA charitable rollover is described as a “qualified charitable distribution” or money that individuals may direct from their traditional IRA to eligible charitable organizations such as the Orange County Council, Boy Scouts of America. Individuals may exclude the amount distributed directly to a charity from their gross income and avoid income tax exposure. The tax laws periodically change regarding direct transfers to a charity.
Your IRA charitable rollover must be made directly from your Individual Retirement Arrangement (IRA) to a charity like the Orange County Council, Boy Scouts of America in order to qualify as tax-free transaction.
Please contact your plan administrator, tax advisor and the Boy Scouts at (714) 546-8558, Ext. 145 for more information.
Click here for IRA transfer request form