Nonprofits News & Analysis

Charities Face Delays in Receiving IRA Gifts for Nonprofits

Nonprofit leaders warn that charities are facing significant delays in receiving IRA assets bequeathed to them by deceased donors. Charities may need to navigate complex requirements, including opening new accounts and providing sensitive information about their staff. For instance, Iowa PBS Foundation's Rob Hilbert mentioned a case that took over five years for a gift of $6,000. Additionally, the University of Denver recounted a two-year ordeal to access a donor's $2 million investment account, which could have generated $90,000 annually for student scholarships. This impacts charities' ability to fund important missions.