IRA charitable distribution: Donate an IRA to charity
If you are over age 70½, you may give a qualified charitable distribution from an individual retirement account and potentially receive tax benefits
Is donating an IRA to charity tax deductible?
Because charities do not pay income taxes on the donations they receive, distributions to charities will avoid being taxed as income. Donating part or all of your unused retirement assets, such as your individual retirement account (IRA), is an excellent way to make a contribution to a charity like St. Jude.
How does a qualifed charitable distribution work, and what qualifies as a charitable IRA rollover?
If you are over age 70½, you may give a gift from your IRA as a tax-free distribution to a qualified charity. This means an amount (up to $100,000 annually) transferred from your IRA directly to a charity like St. Jude can count toward your required minimum distribution without being considered taxable income for you. The deduction then lowers your adjusted gross income (AGI). The distribution, also known as an IRA Charitable Rollover, is authorized by Section 408(d)(8) of the Internal Revenue Code.
As a qualified charitable IRA rollover, the gift must be transferred from a traditional IRA directly to a qualified public charity like St. Jude and must be completed during the applicable tax year.
St Jude must receive your gift by Dec. 31 for your IRA charitable distribution to qualify for that tax year.
Can a charity like St. Jude be the beneficiary of my IRA?
A beneficiary can be any person or entity, such as St. Jude, the owner chooses to receive the benefits of a retirement account or an IRA after the owner's lifetime. Make your IRA part of your legacy, and learn more about legacy giving at St. Jude to see the special way we honor your generosity.
ALSAC/St. Jude Children’s Research Hospital does not provide tax, legal or accounting advice. This material is prepared and made available to you for informational purposes only and is not intended to provide or be relied upon for tax, legal or accounting advice. You should always consult a tax professional to determine your particular tax benefits that may result from any particular type of gift to charity.
Have you left St. Jude in your estate plans?
We want to honor your generosity in a special way. Please let us know so that we can show our gratitude and better plan for the future.
Explore planned giving options
- Planned giving at St. Jude
- Creating a legacy
- Wills and bequests
- Donor-advised funds
- Charitable gift annuities
- Retirement assets
- Life insurance
- Charitable lead trusts
- Charitable remainder trusts
- Bank accounts
- Mutual funds
- Savings bonds
- Outright gift of cash or check
- Real estate
Can an IRA donation to charity count toward my required minimum distribution (RMD)?
A donation transferred directly from your IRA to St. Jude, or another qualified charity, is not considered taxable income on your federal income tax return, but it does count toward your required minimum distribution (RMD). You can donate your RMD to charity starting in the year you turn 72. Your gift can be used to satisfy all or part of your RMD.
You can contact your IRA administrator and ask them to make a QCD. Download a sample Letter of Instruction to get started gifting to St. Jude.
Why donate an IRA to St. Jude?
Families never receive a bill for treatment, travel, housing or food — so they can focus on helping their child live.
When St. Jude opened in 1962, childhood cancer was considered incurable. Since then, St. Jude has helped push the overall survival rate from 20% to more than 80%, and we won't stop until no child dies from cancer.
Every child deserves a chance to live their best life and celebrate every moment. When you support St. Jude, you help give kids with cancer around the world that chance. Together, we can save more lives.
Tax ID Number:
We are a tax-exempt, charitable institution listed in the Federal Internal Revenue Service Publication #78, "Cumulative List of Organizations," revised IRS Code 501(c)(3).
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Our Gift Planning department has a representative in your area who can provide further information for making a qualified IRA charitable distribution or help you prepare the right questions to ask your financial advisor to determine what type of planned gift may be right for you. Email email@example.com, call (800) 395-1087, or fill out the form below, and a St. Jude representative will contact you.