Qualified Charitable Distribution (IRA Rollover)

A Special Opportunity for Those 70½ Years Old and Older

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 Texas Gulf Coast and Louisiana (the distribution is not subject to tax).

Recap of Rules

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

Benefits

• 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

For Those 59½ Years Old or Older

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.

At Any Age

No matter your age, you can designate Make-A-Wish 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 your provider’s website.

You should work closely with your IRA custodian to request a direct distribution to Make-A-Wish Texas Gulf Coast and Louisiana. It is critical to let us know of your gift because many popular retirement plan administrators assume no obligation to notify a charity of your designation. The administrator also will not monitor whether your gift designations are followed. We would love to talk to you about your intentions to ensure that they are followed. We would also like to thank you for your generosity.

**The above information 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 financial advisor.

For more information, contact:

Nicole Gabler

Director of Foundation Engagement

Phone: (979) 505-0263

[email protected] 

Legal name: Make-A-Wish Foundation of the Texas Gulf Coast and Louisiana, Inc.
Legal address: 12625 Southwest Freeway, Stafford, TX 77477
Federal tax ID number: 76-0116615