A special opportunity for those 70 ½ years and older
Make a difference today and save on taxes. It’s possible when you support Guiding Eyes for the Blind through your IRA.
You can give any amount (up to a maximum of $100,000) per year from your IRA directly to a qualified charity such as Guiding Eyes for the Blind without having to pay income taxes on the money. Gifts of any value $100,000 or less are eligible for this benefit and you can feel good knowing that you are making a difference at Guiding Eyes. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short.
1. Make an IRA Donation in a matter of minutes.
If you are 70½ or older, giving from your IRA can help reduce your taxable income — and for those over 73 who must take a Required Minimum Distribution (RMD), an IRA gift is a simple way to fulfill it! By using the link below to give from your IRA, you can auto-complete your paperwork and we can track your gift to send you the proper tax receipts. Give from my IRA
2. Next Steps.
Seek the advice of your financial, tax or legal advisor. Ask your IRA administrator about making a direct transfer to Guiding Eyes or have the administrator send a check from your account to us. (To be tax free, the donation must go directly from your account to Guiding Eyes without passing through your hands.) Contact Kathleen A. O’Reilly at 914-243-4355 or koreilly@guidingeyes.org for additional information on giving an IRA gift.
Legal name: Guiding Eyes for the Blind, Inc.
Address: 611 Granite Springs Road, Yorktown Heights, New York 10598
Federal tax ID number: 13-1854606
No matter your age, you can designate Guiding Eyes for the Blind as the beneficiary of all or a percentage of your IRA and it will pass to us tax-free after your lifetime. It’s simple, just requiring that you contact your IRA administrator for a change-of-beneficiary form or download a form from your provider’s website.
If you’re at least 59½ years old, you can take a distribution and then make a gift from your IRA without penalty. If you itemize your deductions, you can take a charitable deduction for the amount of your gift.
No. The legislation requires you to reach age 70½ by the date you make the gift.
Yes. Direct gifts to a qualified charity can be made only from an IRA. Under certain circumstances, however, you may be able to roll assets from a pension, profit sharing, 401(k) or 403(b) plan into an IRA and then make the transfer from the IRA directly to Guiding Eyes for the Blind. To determine if a rollover to an IRA is available for your plan, speak with your plan administrator.
Yes, absolutely. Beginning in the year you turn 72, you can use your gift to satisfy all or part of your RMD.
No. You can give any amount under this provision, as long as it is no more than $100,000 per year. If your IRA is valued at more than $100,000, you can transfer a portion of it to fund a charitable gift.
We must receive your gift by Dec. 31 for your donation to qualify this year. If you have check-writing privileges on your IRA, please mail your check by Dec. 10 in order to give us time to process your gift before the end of the year.
No. Under the law, you can give a maximum of $100,000 per year. For example, you can give each organization $50,000 this year or any other combination that totals $100,000 or less. Any amount of more than $100,000 in one year must be reported as taxable income.
If you have a spouse (as defined by the IRS) who is 70½ or older, they can also give any amount up to $100,000 from their IRA.
Yes! If you are 70½ or older, you may now make a one-time election for a qualified charitable distribution of up to $50,000 (without being taxed) from your IRA to fund a life-income gift. Some limitations apply, so contact Kathleeen A. O’Reilly at 914-243-4355 or KOReilly@guidingeyes.org for more details and a personalized illustration at no obligation.
By making a gift this year of any amount up to $100,000 from your IRA, you can see your philanthropic dollars at work. You are jump-starting the legacy you would like to leave and giving yourself the joy of watching your philanthropy take shape. Moreover, you can fulfill any outstanding pledge you may have made by transferring that amount from your IRA as long as it is $100,000 or less for the year.
