Making a Gift from your IRA
The 2019 Setting Every Community Up for Retirement Enhancement (SECURE) Act raises the age that individuals need to begin taking their Required Minimum Distribution (RMD) from their IRA from 70½ to 72 years of age. However, you can still make a direct transfer from an IRA to Hadley and satisfy the Required Minimum Distribution (RMD) at age 70½ without increasing your income. The gift is not subject to taxes as it would be if you took the distribution.
Simply contact the bank or broker holding your (non-Roth) IRA and ask them to send a gift to Hadley. The check from the IRA must be made payable directly from the IRA custodian to Hadley. In order to be tax-free the check cannot be made payable to the donor.
Gifts may be any size and donors may give up to $100,000 in total per tax year to 501(c)(3) public charities such as Hadley.
If you have questions, please contact Brooke Voss, Chief Development Officer, at 847-784-2774 or email email@example.com.