Ways to Give

Charitable Donation from your IRA

Qualified Charitable Distribution (QCD):

For those of you over the age of 70 ½, you may also wish to make a Qualified Charitable Distribution directly out of your IRA (Individual Retirement Account). Qualified distributions are taxed like regular income ... and who wants to pay more taxes if you don't have to? This is a tax-wise gifting strategy if you can meet your annual living expenses.

Required Minimum Distributions (RMD):

You must start taking RMD withdrawals from your traditional IRA, SEP IRA, SIMPLE IRA, and retirement plan accounts when you reach age 73. RMD qualified distributions are taxed like regular income ... and who wants to pay more taxes if you don't have to? By donating part or all of your RMD each year, you do not pay tax on that donation. Required minimum distributions (RMDs) are the minimum amounts you must withdraw from your retirement accounts each year. 

Here's how it works:

• Step #1: Contact your IRA custodian and let them know you would like to make a Qualified Charitable Distribution (QCD) or your Required minimum Distributions (RMD) to the IFYE Association of the USA, Inc. 
       Provide them with our mailing address: 
            IFYE Association of the USA, Inc., 
            c/o Roger Sherer, Associate Treasurer, 
            P.O. Box 452, Bluffton, IN 46714-0052. 
  The IFYE Association of the USA, Inc. is a 501(c)3 non-profit corporation.
  Our Federal Tax Identification Number: 25-6085638.
• Step #2: Determine the amount. It can be the full amount of your RMD for the year, a lesser amount, or an amount up to $100,000.
• Step #3:  Make sure that your financial advisor or investment firm sends the check directly to IFYE. Make sure that the check is NOT payable to you; have the check payable to the "IFYE Association of the USA, Inc.”

 Marty Orris, IFYE Board Member and Development Director - mjorris@ifyeusa.org.

October 2024