If you are 701⁄2 or older, you make make charitable gifts, called Qualified Charitable Distribution QCD, to a public charity like Hadley through your IRA. Further, if you are age 73 or older, you may make gifts to charity to satisfy the IRS requirement to take annual income withdrawals, known as Required Minimum Distributions (RMDs) from your IRA. Gifts are not subject to taxes as they would be if you took the distribution for yourself.
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 Brooke@HadleyHelps.org.