A qualified charitable distribution, also known as an IRA charitable rollover gift, allows individuals 70½ years old or older to make an outright gift of up to $100,000 annually from an IRA directly to Make-A-Wish Minnesota without having to pay income taxes on the money.

• Your gift will be put to use today, allowing you to see the difference your donation is making.
• Beginning in the year you turn 73, you can use your gift to satisfy all or part of your required minimum distribution (RMD), providing a charitable giving strategy for donors who do not need the additional income.
• You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
• Maximizes giving by allowing donors to give outside of the charitable deduction limit.
• Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.

If you are at least 59½ years old, you can take a distribution and then make a gift from your IRA without penalty. If you itemize your deductions, you can take a charitable deduction for the amount of your gift.

No matter your age, you can designate Make-A-Wish Minnesota as the beneficiary of all or a percentage of your IRA and it will pass to us tax-free after your lifetime. It’s simple, just requiring that you contact your IRA administrator for a change-of-beneficiary form or download a form from their website.

For more information, contact:

Lindsey Kumlien
Director of Development
[email protected]
612.767.2751

The information on this page is intended to assist you in your tax, estate and charitable planning. It is not intended as legal or tax advice. For such advice, please contact an attorney or tax professional.