Does the Required Minimum Distribution apply to you?
If you’re 73 or older, you can make a direct charitable distribution to Mission to Children by contacting your IRA custodian.
Your IRA retirement account can boost our charity’s capacity AND satisfy your RMD without facing new tax burdens.
Here’s what to do:
- Schedule a time this week to call your IRA custodian.
- Let them know you want to make a direct charitable distribution to Mission to Children, a qualified 501c3 charity.
- Our Federal Tax ID 95-2649274.
- The IRA custodian will send us the check and issue you a Form 1099-R for your records.
- Once we get the check from your IRA Custodian, Mission to Children will send both you and your IRA custodian a letter of acknowledgement, noting your direct charitable distribution. While there is no charitable deduction for you, the tax-free rollover will count toward your annual MRD, and there is no income to report from deferred gains related to the amount donated.
For complex assets, National Christian Foundation can help you. We’ve worked with them in the past, and continue to recommend their solutions. Their solutions help Christian givers experience less paperwork, fewer taxes, more joy, and more impact for the charities they really care about such as Mission to Children. And most importantly they share a Biblical view on generosity. If you contact them, please make sure to designate Mission to Children (Federal ID 95-2649274) as a favorite charity.
