IRA charitable giving: a tax-saving way to help Adat Shalom
If you are 70.5 years old or older, you can give up to $108,000 from your Individual Retirement Account (IRA) directly to a qualified organization such as Adat Shalom 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 QDC for short.
This law no longer has an expiration date, so you are free to make annual gifts this year and well into the future.
Why consider this gift?
- If you have not yet taken your Required Minimum Distribution (RMD) for the year, this IRA charitable rollover gift can satisfy all or part of that requirement.
- 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.
To make a gift using an IRA:
- Contact your IRA administrator
- Provide instructions in writing to transfer the amount you wish directly to Adat Shalom, 7727 Persimmon Tree Lane, Bethesda, MD, 20817
- Indicate that Adat Shalom is a qualified charitable organization and include our tax ID number: 52-1763027