The IRS requires owners of IRAs to begin annual withdrawals from these accounts after they turn 70½ years old. The amount that you have to withdraw is determined by your age, the amount you have saved in an IRA, and your life expectancy.
When individuals take distributions from their IRAs, it usually counts as income for tax purposes. Qualified Charitable Distributions (QCDs), also called IRA Charitable Rollovers, are an exception. Individuals 70½ years of age or older can distribute up to $100,000 and up to $200,000 for married couples, tax free, each year from their IRAs to their favorite 501(c)(3) organizations without counting the distribution as income.
- You must be 70½ or older and have an IRA.
- You must make a direct transfer from your IRA to Phoenix Children’s Hospital Foundation.
- Your gift must be outright and cannot fund a gift annuity or charitable trust.
- IRA gifts count toward your required minimum distribution.
Discuss with your financial advisor if a QCD is right for you.
Contact your IRA administrator and ask them to make a QCD.
Download a sample Letter of Instruction to get started.
To learn more about eligibility, visit the IRS FAQs about IRA withdrawals and distributions.
How Do I Make A Qualified Charitable Distribution to Phoenix Children’s?
Print and fill in your Distribution Form. If you would like to make a gift to Phoenix Children's, please use the information below to designate your gift: Phoenix Children's Foundation Attn: Planned Giving 2929 E. Camelback Road Suite 122 Phoenix, AZ 85016 Phoenix Children's Foundation Tax ID #: 74-2421549 * Please note your information will not be shared with Phoenix Children's unless you ask your custodian to notify us of your gift
You can use the sample letter above and modify to your circumstances.
It generally takes 5-10 business days for IRA administrators to typically transfer the funds. We recommend that you submit your request on or before Dec. 1, to ensure the funds are transferred during the tax year.
