Transferring IRA assets to Hampton Roads Community Foundation
To roll over funds from an Individual Retirement Account please contact your IRA's administrator to request a distribution to the Hampton Roads Community Foundation. (If you are using the Charitable IRA Rollover, you can transfer up to $100,000. If you are at least 70 1/2 years of age those assets will transfer directly without counting as taxable income.)
Three options for the transfer
- The IRA administrator may mail a check to the Hampton Roads Community Foundation. The check must be payable to "Hampton Roads Community Foundation". On the memo line, your administrator should add your name, the purpose of your gift (e.g. start the Smith Scholarship Fund), and that the transfer is a distribution from your IRA – or enclose a note to that effect. The plan administrator can mail the check to: Lynn Watson Neumann, director of gift planning, Hampton Roads Community Foundation, 101 W. Main Street, Suite 4500, Norfolk, Virginia 23510. Please let us know your gift is coming: (757) 622-7951 or email Lynn Watson Neumann.
- The IRA administrator can make the check payable to "Hampton Roads Community Foundation" but deliver it to you. You can then mail the check (as above) or we can arrange a meeting to receive it.
- The IRA administrator can make a cash wire transfer from the account directly. He or she should email Kay Stine, vice president for development, or call (757) 622-7951.
If you or your IRA administrator have questions, please email Kay A. Stine or Lynn Watson Neumann. You can also call them at (757) 622-7951.
Here's a sample letter to send your IRA plan administrator requesting a charitable transfer.