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Qualified Charitable Distribution from an IRA

Gifts from your Individual Retirement Account can be given to an eligible charitable organization, like Fenwick.

Up to $100,000 of the gift is excluded from your gross income for tax purposes, these gifts also apply to your required minimum distribution. 
 

How it works:

  1. You make a distribution directly from an IRA to Fenwick by December 31.
  2. The distribution counts toward your required minimum distribution.

Are you eligible?

  • You are at least 70 1/2 years of age 
  • The distribution must otherwise by included in gross income
  • The distribution must otherwise be fully deductible as a charitable contribution.

Benefits:

  • Up to $100,000 is removed from your gross income for income tax purposes.*
  • The distribution counts toward your required minimum contribution.

 

Could a charitable distribution from an IRA work for you? Please contact Vice President of Institutional Advancement Chris Ritten at critten@fenwickfriars.com or 708-948-0350.

*Certain IRS limitations apply. The information presented is not intended as legal or financial advice. Please consult your own professional advisors to discuss your specific situation. 

 
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