Donate from an IRA (IRA Rollover)
Individuals over the age of 73 are required to take an annual minimum distribution from their traditional IRA Accounts.
Cancer Support Community Arizona (CSCAZ) is a 501(c)(3) non-profit organization eligible for qualified charitable distributions (QCD) through the Protecting Americans from Tax Hikes Act of 2015. You can reduce your income tax liability on your required minimum distribution by making a tax-free charitable IRA distribution to CSCAZ.
To qualify, you must:
- Be age 73 or older at the time the IRA distribution is made to CSCAZ.
- Make the distribution directly from your IRA account to CSCAZ. You do this by contacting your IRA custodian and directing them to issue a check in the amount you specify directly to CSCAZ.
- Provide your IRA custodian with the following information so they can issue a check payable to CSCAZ:
- Legal Name: Cancer Support Community Arizona
- Address: 360 E. Palm Lane Phoenix, AZ 85004
- Federal Tax ID: 86-0897810
- Ask the custodian to put your name in the “memo” line of the check or include a letter stating your name and address. That way, we’ll know it’s from you and can provide you with an acknowledgment for your records. Your IRA custodian can mail the check directly to us, or you can deliver it in person or mail it to us.
If possible, please provide us in advance with your donation amount and the name of the financial institution issuing your check, as it will allow us to promptly identify your gift.
If you are 73 years of age or older, your gift may count toward your required minimum distribution (RMD) for the year in which the check is issued and is excluded from your taxable income.
Additional information to note:
- The minimum age requirement for a rollover IRA is 70 ½
- The maximum donation amount from an IRA in one year cannot exceed $100,000
If you would like more information about an IRA rollover, please contact us.
Please always remember to consult your tax advisor for specific rules related to qualified charitable distributions.