IRA (Qualified Charitable Distribution)

“I find it so convenient and smart to donate to WINGS from my IRA. I email my financial advisor who prepares a non-taxable contribution check made out directly to WINGS and puts it in the mail. Easy for me and pretax dollars go to WINGS!” 

Eileen – WINGS Butterfly Club member

Qualified Charitable Distribution (QCD) also known as IRA Charitable Rollover

A qualified charitable distribution (QCD) lets those 70½ years old or older transfer up to $111,000 annually from a traditional individual retirement account (IRA) to a qualified charity such as WINGS Program, Inc. tax-free. Note: state tax on QCDs varies so consult a tax advisor to see if this type of donation is a good fit for you.

Starting at age 73, IRA owners must take a required minimum distribution (RMD), an annual minimum amount that an account holder must withdraw. You can satisfy your RMD without increasing your taxable income by giving a QCD.

Why consider this gift?

  • Your gift will be used immediately, allowing you to see the difference your donation is making in the lives of survivors of domestic violence.
  • If you are required to take minimum distributions, you can use your gift to satisfy all or part of your obligation.
  • Lower the burden of estate tax on heirs.
  • You pay no federal 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.
  • Since the gift does not count as income, it can reduce your annual adjusted gross income level. This may help reduce your Medicare premiums and taxable Social Security benefits.
Give from your IRA

Frequently Asked Questions

No. You must be 70½ by the date you make the gift.

Yes. Direct gifts to a qualified charity can be made only from a traditional IRA, inactive Simplified Employee Pension (SEP) plans, and inactive Saving Incentive Match Plan for Employees (SIMPLE) IRA. Under certain circumstances, however, you may be able to roll assets from a pension, profit sharing, thrift savings plan (TSP), 401(k) or 403(b) plan into an IRA and then make the transfer from the IRA directly to WINGS Program, Inc. To determine if a rollover to an IRA is available for your plan, speak with your plan administrator.

Yes, absolutely. Beginning in the year you turn 73, you can use your gift to satisfy all or part of your RMD.
No. You can give any amount under this provision, if it is no more than $111,000 this year. If your IRA is valued at more than $111,000, you can transfer a portion of it to fund a charitable gift.

We must receive your gift by Dec. 31 for your donation to qualify this year. If you have check-writing features on your IRA, please be aware that your check must clear your account by Dec. 31 to count toward your required minimum distribution for the calendar year.

No. Under the law, you can give a maximum of $111,000 this year. For example, you can give each organization $55,500 this year or any other combination that totals $111,000 or less. Any amount of more than $111,000 in one year must be reported as taxable income.
If you have a spouse (as defined by the IRS) who is 70½ or older, they can also give any amount up to $111,000 from their IRA.

By making a gift this year of any amount up to $111,000 from your IRA, you can see your philanthropic dollars at work. You are jump-starting the legacy you would like to leave and giving yourself the joy of watching your philanthropy take shape. Moreover, you can fulfill any outstanding pledge you may have made by transferring that amount from your IRA if it is $111,000 or less for the year.

Money in an IRA has yet to be taxed. When a distribution is made from your retirement plan account to a beneficiary, that person will owe federal income tax.

Consider leaving your loved ones less taxed assets and leaving your IRA to WINGS Program, Inc. since as a nonprofit organization, we are tax-exempt and will receive the full amount of what you designate. You can take advantage of this gift opportunity by naming WINGS Program, Inc. as a primary beneficiary for a percentage or specific amount on your IRA by updating your beneficiary designation form through your plan administrator. You can also make WINGS Program, Inc., the contingent beneficiary so that we will receive the balance of your IRA only if your primary beneficiary does not survive you.

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 your gift.

At Any Age

Let us know of your gift because many 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 and thank you for your generosity.
You can designate WINGS Program, Inc. as the beneficiary of all or a percentage of your IRA and it will pass to us tax-free after your lifetime. It is simple, just requiring that you contact your IRA administrator for a change-of-beneficiary form or download a form from your provider’s website.

Contact Us

Fill out this form or contact Shelley Welch, Director of Annual Fund and Charitable Giving at swelch@wingsprogram.com or (847) 519-7820 x222

Disclaimer: WINGS Program, Inc., does not provide legal, tax, or financial advice. This material is prepared and made available to you for informational purposes only. You should consult professional advisors concerning legal, tax, or financial consequences of your charitable activities.

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