IRS Charitable Rollover Gift
Donors who are 70.5 years or older can support SBM through an IRA charitable rollover gift (also known as a Qualified Charitable Distribution or QCD). This is a tax-smart way to give that can lower your adjusted gross income (AGI) and help you make a significant impact on the programs and initiatives you care about, while also meeting your Required Minimum Distribution (RMD) for the year. Eligible donors may transfer up to $100,000 per year directly from an IRA (traditional or Roth), and may exclude the gift amount from taxable income while satisfying their RMD.
How to Give
Contact Your IRA Administrator:
- Reach out to your IRA custodian to request a distribution be made directly to SBM.
- Be sure to provide them with our legal name, address, and tax ID number.
- If you withdraw the funds from your personal bank account first, the IRS will count the withdrawal as taxable income.
- Please ensure your gift is processed by December 31 to qualify for this tax year.
Notify Us of Your Gift: Let us know about your IRA charitable rollover gift so we can acknowledge your generosity and ensure it’s applied according to your wishes.
