If you’re at least 59 and 1/2 or older, you can take a distribution from your IRA and then make a gift without penalty.  If you itemize your deductions, you can take a charitable deduction for the amount of your gift.

If you’re 70 and ½ or older, you can give an amount up to $100,000 each year from your IRA directly to a qualified charitable institution without having to pay income taxes on your gift.

No matter your age, you can designate Lake of the Isles as the beneficiary of all or a percentage of your IRA.  As a tax-exempt organization, we receive your gift tax-free.