IRA Qualified Charitable Distribution
If you are 70½ or older you can lower your taxable income from IRA withdrawals by making a donation to WUNC Radio directly from your IRA account.
Your plan administrator can mail your distribution to WUNC's address: 120 Friday Center Dr., Chapel Hill, NC 27517. You can download a sample letter to send to your plan administrator when making a request for a charitable distribution to WUNC Radio.
IMPORTANT YEAR END DEADLINE:
If you write a check from an IRA checkbook, IRS requirements dictate that these checks must be debited from your account on or before December 31st to qualify in the current tax year's distributions. To help ensure that WUNC receives and deposits your gift before the end of the year, please mail your check by December 15th. (WUNC's address is 120 Friday Center Dr., Chapel Hill, NC 27517.)
Benefits of an IRA Qualified Charitable Distribution
- You can avoid taxes on transfers of up to $108,000 from your IRA to WUNC.
- Satisfy all or a portion of your required minimum distribution (RMD) for the year if you are aged 73 or older.
- 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
- You will help further WUNC's work and mission.
How it works
- Contact your IRA plan administrator to make a gift from your IRA to WUNC Radio.
- Your IRA funds will be directly transferred to WUNC to help continue our important work.
- IMPORTANT: To ensure that we know when an IRA gift is from you, so that we can send you documentation for your tax records, please notify us at 800-962-9862 or wunccares@wunc.org.
- IRA Qualified Charitable Distribution gifts do not qualify for a charitable deduction.
All information is intended to be illustrative in nature and may not cover all issues pertinent to every individual situation. WUNC suggests consulting with your financial or legal advisor to determine how this legislation impacts your own personal situation before making any decisions.