Planned giving is a great way to support Community Music School and make a lasting impact by planning for the future. When you make a charitable gift through your estate, you allow CMS to continue to foster “Brighter Future Through Music” for years to come. Contact Director of Development Dawn Downing ddowning@cmsraleigh.org to learn how to make a planned gift.

Are you 70 ½ or older? The Protecting Americans from Tax Hikes (PATH) Act of 2015 (known popularly as the IRAD Charitable Rollover =) allows you to transfer up to $100,000 each year to charity without obtaining the classification of a taxable distribution. For those age 72 and older, this charitable transfer can also satisfy your Required Minimum Distribution (RMD).

Requirement and restrictions:

• The donor must be 70 ½ or older.
• The gift must be made directly from the IRA to an eligible charitable organization.
• Gifts to all charities combined cannot exceed a total of $100,000 per taxpayer for the year.
• The gifts must be outright, and no material benefits can be received in return for the gifts.
• Gifts cannot be made to a donor advised fund, supporting organization, or private foundation.
• The gift is not included in taxable income, and no charitable deduction is allowed.
• The gift can only be made from an IRA. Gifts from 401(k), 403(b), and 457 plans are not permitted.