The 2019 Setting Every Community Up for Retirement Enhancement (SECURE) Act raised the age that individuals need to begin taking their Required Minimum Distribution (RMD) from their IRA from 70½ to 72 years of age. However, you can still make a direct transfer from an IRA to Hadley and satisfy the Required Minimum Distribution (RMD) at age 70½ without increasing your income. The gift is not subject to taxes as it would be if you took the distribution.
Simply contact the bank or broker holding your (non-Roth) IRA and ask them to send a gift to Hadley. The check from the IRA must be made payable directly from the IRA custodian to Hadley. In order to be tax-free the check cannot be made payable to the donor.
Gifts may be any size and donors may give up to $100,000 in total per tax year to 501(c)(3) public charities such as Hadley.
If you have questions, please contact Brooke Voss, Chief Development Officer, at 847-784-2774 or email firstname.lastname@example.org.