BUILD YOUR LEGACY OF COMMUNITY SUPPORT WITH AN IRA CHARITABLE ROLLOVER also known as a Qualified Charitable Distribution (QCD)
A charitable IRA rollover allows individuals ages 70½ years or older to make gifts to charities, including United Way, directly from an Individual Retirement Account (IRA). With this gift, you will help to create a legacy of community improvement— for the challenges we face today and the efforts to create a vibrant region into the future.
- IRA Charitable Rollovers provide a simple way to support our community by making a gift from a major asset.
- When you transfer funds directly to United Way from an IRA, the funds can potentially reduce your taxable income.
- The charitable contribution counts towards minimum distribution requirements from IRAs.
A distribution from your IRA is typically taxed as ordinary income. If you meet the conditions below, you are eligible to make a gift directly to United Way that is tax-free.
- Must be ages 70 1/2 or older (note that required minimum distributions begin at 72 years of age)
- Annual IRA gift cannot exceed $100,000
HOW TO MAKE A DISTRIBUTION
Here is how you transfer funds from your IRA to United Way:
- Contact your IRA administrator
- Tell your IRA administrator you wish to make a direct distribution from your IRA to United Way
- Request a check made payable to United Way of Greater Rochester and the Finger Lakes and indicate it is a distribution from the account of (your name)
- Provide our Federal Tax ID #: 16-1015782
- Please contact Julie Marsiglio to let us know you are making this gift, so we can get you the right documentation when it comes in.
We are here to help! Please contact Julie Marsiglio by email or (585) 242-6465 with any questions or to let us know that you are making a payment.