IRA Rollover

A qualified charitable distribution, also known as an IRA charitable rollover gift, allows individuals 70½ or older to make an outright gift of up to $100,000 annually from an IRA directly to Make-A-Wish Illinois (the distribution is not subject to tax). 

Recap of Charitable IRA Rollover Rules

  • The IRA account holder must be age 70½ or older at the time the distribution is made to Make-A-Wish Illinois 
  • Distributions are limited to $100,000 per individual per year and must be transferred directly from the IRA custodian to Make-A-Wish Illinois 
  • Distributions can only be directed from a traditional or Roth IRA 
  • The distribution must be an outright gift to Make-A-Wish Illinois 

Benefits of Charitable IRA Rollover

  • Satisfies all or part of annual required minimum distributions (RMD) and provides a charitable giving strategy for donors who do not need the additional income 
  • The rollover amount is a tax-exempt distribution and not subject to income tax 
  • Maximizes giving by allowing donors to give outside of the charitable deduction limit 
  • Provides value for those who do not itemize 
  • May be used to fulfill any outstanding pledges 
  • You should work closely with your IRA custodian to request a direct distribution to Make-A-Wish. 

Contact Heather Simpson, at 312.602.9434 or [email protected] with questions and to notify us of your planned gift.Â