Gift and Estate Planning

A qualified charitable distribution can make it easy for donors to minimize the tax bite of the required minimum distribution if one is due.

This tax-free IRA-to-charity transfer is an important opportunity for donors who:

• Plan to make charitable donations
• Don’t need the money from a distribution
• Want to support our mission

Qualified Charitable Distribution Requirements

The tax benefits associated with qualified charitable distributions from IRAs directly to charity are subject to precise and specific requirements:

• a minimum age—the donor must be at least 70½
• a maximum amount—no more than $105,000 per year (annual aggregate limit for 2024)
• a qualified public charity—no gifts to private foundations, or to set up donor-advised funds or split-interest charitable trusts
• a direct transfer—money must be moved directly from the IRA account to the charity

Satisfy Required Minimum Distributions

Qualified charitable distributions count toward a donor’s required minimum distribution (RMD) if one is due.

Consider a New Option

IRA owners who are 70½ or older can make a one-time, tax-free IRA distribution to create a new charitable gift annuity or charitable remainder trust ($53,000 maximum in 2024). This distribution counts toward a donor’s RMD if one is due. Spouses may contribute up to $53,000 each from their individual IRAs into a single charitable remainder trust or a joint-life charitable gift annuity. Payments may only go to you and/or your spouse.

Click here to calculate your required minimum distribution.