IRA charitable giving: a tax-saving way to help the IRC
If you are 70½ years old or older, you can give up to $100,000 from your Individual Retirement Account (IRA) directly to a qualified organization such as the International Rescue Committee (IRC) without having to pay income taxes on the money. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short.
This law no longer has an expiration date so you are free to make annual gifts to our organization this year and well into the future.
Why consider this gift?
- Your gift will be put to use today, allowing you to see the difference your donation is making.
- You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
- If you have not yet taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.
To make a gift using your IRA:
- Contact your IRA administrator
- Provide instructions in writing to transfer the amount you wish directly to the IRC,
Attention: Kharga Gurung, Sr. Manager, Supporter Services
International Rescue Committee
122 East 42nd Street
New York, NY 10168
- Indicate that IRC is a qualified 501[c] charitable organization and include our Federal Tax ID Number: 135660870.
More questions? Contact:
Phone: +1 212 551-2982
Email: [email protected]
IRA: the easiest way to leave your legacy
If you want to make a difference at the IRC after your lifetime, consider a tax-wise gift from your retirement plan or IRA. Here's why:
A retirement plan or IRA is typically the largest source of assets that generate taxable income when paid to a beneficiary. If you are considering a gift to the IRC after your lifetime, it may be better to leave taxable assets to a charity, and give nontaxable assets (such as stocks and real estate) to your loved ones.
To complete your gift, simply contact your retirement plan or IRA administrator (or visit their website) and complete a beneficiary designation form naming our organization as beneficiary and the percentage you'd like us to receive (1-100). Then mail it back to the plan administrator and keep a copy for your records. Beneficiary forms are filled out on your terms and can be changed at any time.
If you want additional information, or to notify the IRC of your legacy plans, please contact: [email protected], or call us at: +1 212 551-2954.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. A copy of our most recently filed financial report is available from the Charities Registry on the New York State Attorney General’s website (www.charitiesnys.com) or, upon request, by contacting the New York State Attorney General, Charities Bureau, 28 Liberty Street, New York, NY 10005, or us at 122 East 42nd Street, New York, NY 10168-1289. You also may obtain information on charitable organizations from the New York State Office of the Attorney General at www.charitiesnys.com or (212) 416-8401.