Use Your Retirement Fund to Make a Gift Today
If you are 70½ years or older, you can transfer up to $100,000 annually from your Individual Retirement Account (IRA) directly to a qualified charity like Contemporary Craft without having to pay income taxes on the funds. This can satisfy all or part of the annual required minimum distribution (RMD) from your IRA. This Qualified Charitable Contribution (QCD) is tax-free, even if you don’t itemize deductions on your tax return.
To Qualify
- You must be 70½ years or older at the time of the gift
- The transfer must go directly from your IRA to Contemporary Craft
- Your total annual IRA gift(s) cannot exceed $100,000
- Your gift must be made by December 31
Next Steps
- Contact your IRA administrator
- Ask to make a Qualified Charitable Contribution to:
Contemporary Craft
5645 Butler St
Pittsburgh, PA 15201
- Please make sure that your name and address are included in the funds transfer and/or alert Contemporary Craft to the gift
No matter how old you are, you can designate Contemporary Craft as the beneficiary of all or a percentage of your IRA, which will pass to us tax-free after your lifetime and make a lasting impact on the community.
For any additional information, transfer instructions, or questions, please reach out to Leslie Riker, Donor Relations Manager, at lriker@contemporarycraft.org or (412) 261-7003.
