Giving From Your IRA
A Special Opportunity for those 70½ Years Old and Older
You can give any amount (up to a maximum of $100,000) per year from your IRA directly to a qualified charity, such as the National Repertory Orchestra, without having to pay income taxes on the money.
To be eligible for benefits in the current tax year, funds must be transferred to the National Repertory Orchestra by December 31.
Why consider this gift?
- Your gift will be put to use today, allowing you to see the immediate and tangible impact your donation is making.
- Beginning in the year you turn 73, you can use your gift to satisfy all or part of your required minimum distribution (RMD).
- You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
- Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.
You might also consider naming a charity, such as the National Repertory Orchestra, as a beneficiary for all or part of your IRA as part of your estate plan.
Before proceeding, please consult with your tax advisor to discuss your situation, including any impact of your state’s tax laws.
→ Please contact the Director of Development, Åsa Armstrong, [email protected] or (970) 453-5825 x3 to discuss how your gift can help further our mission.
Make a Charitable Donation from your IRA
Contact your IRA administrator and request that a charitable distribution be transferred directly to the National Repertory Orchestra (Federal Tax ID #: 84-0566793). You can designate your support to a specific program most meaningful to you by reaching out to NRO’s development staff with your philanthropic wishes.