Giving With Your IRA
Many people overlook the IRA option to make charitable gifts in a tax-efficient way once they reach the age of retirement.
If you are 70½ or older, you can elect to transfer up to $100,000 a year out of your IRA to the Liberty Justice Center, an IRS 501(c)(3) non-profit organization. The transfer must be made directly to the Liberty Justice Center from your IRA custodian. The amount transferred counts toward your required minimum distribution (RMD).
Benefits of an IRA Charitable Distribution:
- May avoid taxes on charitable distributions of up to $100,000 from your IRA
- Reduce your taxable income, even if you do not itemize deductions
- Make a gift that is not subject to the deduction limits on charitable gifts
- May satisfy your required minimum distribution (RMD) for the year
- Help further the work and mission of the Liberty Justice Center
You should always check with your tax or financial advisor to determine whether this gift plan is right for you and for any changes to the IRS rules and regulations.
How to Make A Transfer
To make the transfer, tell your IRA custodian that you would like to make a “Qualified Charitable Distribution (QCD)” to the Liberty Justice Center, 13341 W. U.S. Highway 290, Building 2, Austin, TX 78737. Please note, our tax ID number is 45-4204425. Or you may download and use the “Sample Letter to Request a QCD from your IRA.”
Once we receive the QCD from your IRA, we will give you full credit for the entire gift amount, and you will receive a letter stating that the gift qualifies as a QCD to use for your tax reporting purposes.
Questions?
Please contact our development team at [email protected] with any questions.
The Liberty Justice Center, tax ID 45-4204425, is a 501(c)(3) organization; donations are tax-deductible to the fullest extent of the law. Please see our donor privacy policy.