The IRA charitable rollover is a great way to make a tax-free gift to Mercy Corps using your qualified retirement plan. The Protecting Americans from Tax Hikes (PATH) Act has made the IRA charitable rollover permanent, allowing people who have reached age 70.5 to donate to charitable organizations directly from their Individual Retirement Account (IRA), without treating the distribution as taxable income. The potential tax savings of a direct distribution can be best determined by consulting your financial adviser.
Benefits of an IRA charitable rollover gift
- Gifts may satisfy or count toward the required minimum distribution (RMD) for the year.
- Take advantage of federal, and in many cases, state income tax savings.
- Your gift to Mercy Corps will help people meet the urgent needs of today and build stronger tomorrows.
- You must be at least age 70 ½ at the time of the gift your distribution to Mercy Corps.
- Distributions should be made from your IRA administrator directly to Mercy Corps in order to maximize potential tax savings.
- Distributions must be made from a traditional IRA or Roth IRA (Some plans such as 401k, 403b, SEPs are not eligible. Please contact your plan administrator for more details and options).
- The charitable distribution must be complete by December 31 in the year it is claimed.
- Total charitable distributions cannot exceed $100,000, per taxpayer per year.
- Donor may not receive any goods or services in exchange for the donation.
To make a gift:
- Contact your IRA administrator to request a charitable distribution transfer to Mercy Corps.
- Instruct your IRA administrator to include your name on the check and a note that this is an IRA qualified charitable distribution for the current tax year.
- IRA administrators may send gifts to:
National Processing Center
P.O. Box 37800
Boone, IA 50037-4800
If sending gift via UPS or FedEx, who cannot deliver to PO boxes, please ship to:
Attention: Samantha McBirnie
2005 Lakewood Dr.
Boone, IA 50036