IRA Giving

Many of our donors chose to give IRA distributions to Friends of SDPB each year. This allows you to make a charitable gift directly from your IRA every year while excluding the amount of that gift from your adjusted gross income (AGI).

Advantages to you:

•   You can use an often-overlooked asset to make a gift to SDPB.

•   The IRA Charitable Rollover permits you to make donations directly to charitable organizations such as SDPB without counting the distribution as part of your AGI and, consequently, without paying taxes on it.

•   You don’t recognize the distribution as income for federal income tax purposes.

•   The distribution counts towards your minimum required distribution (RMD) for the year.

To qualify:

•   You must be at least 70.5. The required eligibility date for mandatory distributions recently increased from age 70.5 to 72. However, the minimum age for charitable IRA rollovers remains at 70.5, meaning you can give charitably from your IRA before you are required to make annual distributions.

•   Charitable contributions from an IRA must go directly to a public charity. Contributions to donor-advised funds and private foundations, except in narrow circumstances, generally do not qualify for tax-free treatment.

•   Your total combined charitable IRA rollover contribution cannot exceed $100,000 in any one year. Married couples may be able to contribute up to $200,000.

•   Distributions can only be made from traditional IRAs or Roth IRAs. Charitable donations from 403(b) plans, 401(k) plans, pension plans, and other retirement plans are generally ineligible for the tax-free treatment. Distributions must be made directly from your IRA trustee payable to Friends of SDPB.

•   You cannot receive any goods or services in return for your charitable IRA rollover in order to qualify for tax-free treatment.

We recommend that you seek advice from your accountant prior to making a charitable rollover as personal circumstances can have a significant impact on whether charitable rollovers are advantageous. In order to benefit from an IRA contribution this year, plan to contact your IRA administrator as soon as possible as some administrators may place a deadline on requesting transfers.

If an IRA distribution seems like a good option, please complete the attached Distribution form (link to form) to communicate your wishes to your IRA administrator and to SDPB, which will assist us in providing you proper acknowledgement needed for tax purposes. Please send your form to both your IRA administrator and to Carmen Kock at carmen.kock (at) sdpb.org, or call us with any questions at (605) 677-6781.

We Are Here to Help

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Contact any of the staff below with questions:

Val Simpson
Donor Relations Director (West)
val.simpson (at) sdpb.org

Wade Gemar
Donor Relations Director (East)
wade.gemar (at) sdpb.org

Ryan Howlett
Chief Executive Officer
and Major Giving Officer
ryan.howlett (at) sdpb.org