Give from your IRA
A Special Giving Opportunity for those 70 ½ Years or Older
An IRA Charitable Rollover allows donors 70 ½ or older to make a gift directly from an IRA account. Donors can give any amount (up to a maximum of $100,000) per year from an IRA to a qualified charity, such as Raritan Valley Habitat for Humanity, without having to pay income taxes on the money. Gifts of any value ($100,000 or less) are eligible for this benefit, and you can feel good knowing that you are making a difference today. This tax-saving gift option is called the IRA Charitable Rollover, also known as a qualified charitable distribution, or QCD for short.
Why Consider This Gift?
- Your gift will be put to use today, allowing you to see the difference your donation is making.
- Beginning the year you turn 72, you can use your gift to satisfy all or part of your required minimum distribution (RMD).
- You pay no income taxes on this gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you don’t itemize your deductions.
- Since the gift from your IRA doesn’t count as income, it can reduce your annual income level. It may also help lower your Medicare premiums and decrease the amount of Social Security subject to tax.
For Those 59 ½ Years or Older
If giving from your IRA sounds good but you are not quite 70 ½ yet, you can still donate from your IRA account. If you are at least 59 ½ 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 entire amount of your donation.
To donate to Raritan Valley Habitat for Humanity from your IRA:
Raritan Valley Habitat for Humanity is an IRS-qualified charity, making us eligible to receive qualified charitable distributions from you IRA. Your IRA custodian can provide instructions and more information regarding required minimum distributions etc.
Raritan Valley Habitat for Humanity’s tax ID number is: 22-3126027.
Please make checks payable to: Raritan Valley Habitat for Humanity.
Mail checks to:
Raritan Valley Habitat for Humanity
PO Box 330
Pluckemin, NJ 07978
Thank you for investing in Raritan Valley Habitat for Humanity. Your gift is deeply valued. We are grateful for your commitment to Raritan Valley Habitat for Humanity and its mission and values.