Support Historic Annapolis With a Qualified Charitable Distribution From Your IRA
Satisfy your minimum distribution while ensuring Historic Annapolis can continue to lead the way in ensuring Annapolis remains a historic treasure and an evolving, vibrant, relevant and living lesson of America’s history.
What is a qualified charitable Distribution?
A qualified charitable distribution (QCD) is a distribution of funds from your IRA (other than a SEP or SIMPLE IRA) directly to a qualified charitable organization, such as Historic Annapolis. Because the gift goes directly to the charity without passing through your hands, the dollar amount of the gift may be excluded from your taxable income up to a maximum of $108,000 annually, with some exceptions. Please consult your tax advisor for information regarding your specific exceptions. To learn more about QCDs, please visit IRS.gov.
Who can make a qualified charitable Distribution?
QCDs can be made by IRA owners who are age 70 1/2 or older. QCDs made prior to the age you are required to take a minimum distribution from your retirement assets (pre-Required Minimum Distribution QCDs) will not reduce or otherwise impact future Required Minimum Distribution. If you’re age 72 or older this tax advantaged giving method may help you to meet your minimum distribution requirement or RMD. Many individuals who are required to take money from their IRA but do not need it for living expenses have chosen to make QCDs from their IRAs to support the work of Historic Annapolis. This may make sense for you too! Please consult your tax advisor for information regarding your specific situation. To learn more about eligibility, please visit IRS.gov.
How Do I Make a Qualified Charitable Distribution to Historic Annapolis?
Your QCD must be made directly from your IRA custodian to Historic Annapolis on your behalf. Each financial institution has its own process for initiating a qualified charitable distribution. Many retirement plan administrators require you to use their distribution forms and comply with other requirements, so follow your financial institution’s forms and procedures to ensure you receive any potential tax benefits associated with this gift.
Suggested Language For A Cover Letter for IRA Trustee
It is my intention that this charitable rollover gift comply with the IRS Qualified Charitable Distribution requirements. Accordingly, when Historic Annapolis, Inc. receives the QCD gift from my financial institution, it will provide me with a written acknowledgment of the gift date and amount, stating no goods or services were transferred to me in consideration for the gift.
In your transmittal to Historic Annapolis, please indicate my name and address as the donor of record and copy me on your correspondence in connection with this transfer. It is my intention to have this transfer qualify for exclusion during this tax year. Please send the IRA charitable rollover gift to:
Historic Annapolis, Inc.
Attn: IRA QCD
18 Pinkney Street
Annapolis, MD 21401
Your IRA Custodian will need the following information:
Legal name: Historic Annapolis, Inc.
Taxpayer ID: 52-0645783
Permanent address: 18 Pinkney Street, Annapolis, MD 21401
To learn more about ways of supporting Historic Annapolis, please contact:
Carol Rognrud
Vice President of Development
410.990.4715
carol.rognrud@annapolis.org