If you are 70½ years old or older, you can take advantage of a simple way to benefit the African Wildlife Foundation and receive tax benefits in return. You can give any amount up to $100,000 per year from your IRA directly to a qualified charity such as ours 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.
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.
- Beginning in the year you turn 72, you can use your gift to satisfy all or part of your required minimum distribution.
- Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.
Frequently Asked Questions
By making a gift this year of up to $100,000 from your IRA, you can see your philanthropic dollars at work. You are jump-starting the legacy you would like to leave and giving yourself the joy of watching your philanthropy take shape. Moreover, you can fulfill any outstanding pledge you may have made by transferring that amount from your IRA as long as it is $100,000 or less for the year.
No. The legislation requires you to reach age 70½ by the date you make the gift.
Yes. Direct gifts to a qualified charity can be made only from an IRA. Under certain circumstances, however, you may be able to roll assets from a pension, profit sharing, 401(k) or 403(b) plan into an IRA and then make the transfer from the IRA directly to the African Wildlife Foundation. To determine if a rollover to an IRA is available for your plan, speak with your plan administrator.
Yes, absolutely. Beginning in the year you turn 72, you can use your gift to satisfy all or part of your required minimum distribution.
We must receive your gift by Dec. 31 for your donation to qualify this year. If you have check-writing privileges on your IRA account, please mail your check by Dec. 18 in order to give us time to process your gift before the end of the year.
No. You can give any amount under this provision, as long as it is $100,000 or less per year. If your IRA is valued at more than $100,000, you can transfer a portion of it to fund a charitable gift.
No. Under the law, you can give a maximum of $100,000. For example, you can give each organization $50,000 this year or any other combination that totals $100,000 or less. Any amount of more than $100,000 in one year must be reported as taxable income.
If you have a spouse (as defined by the IRS) who is 70½ or older and has an IRA, he or she can also give up to $100,000 from his or her IRA.
- Contact Jon Apfelbaum at 202 939 3317 or email@example.com for additional information on giving an IRA gift.
- Seek the advice of your financial or legal advisor.
- Ask your IRA administrator about making a direct transfer to AWF or have the administrator send a check from your account to us. (To be tax free, the donation must go directly from your account to AWF without passing through your hands.)
Legal Name: African Wildlife Foundation
Address: 1100 New Jersey Avenue, SE, Suite 900, Washington, DC 20003 USA
Federal Tax ID Number: 52-0781390
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Federal Tax ID Number: 52-0781390
Information contained herein was accurate at the time of posting. 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. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.