A tax-savvy way to give
Charitable Rollovers from your IRA make economic sense to you for tax reasons, and are meaningful to our work because they help secure our future. IRA gifts are directed to our Endowment, which means they’re added to the base of funds that safeguards Wikipedia from future challenges.
To qualify:
- You must be at least 70.5 or older at the time of the gift.
- You’re allowed to transfer to charity up to $105,000 per year.
- The rollover must come from your IRA. Rollovers from 401(k), 403(b) and other retirement plans do not qualify.
- The rollover must be made directly from your IRA to the Wikimedia Endowment. Funds that are transferred to you and then gifted to Wikimedia don’t qualify.
Benefits:
- You avoid paying income tax on the amount distributed to Wikimedia.
- The rollover satisfies your required minimum distribution (RMD) which begins at age 70.5.
- The rollover is made by simply instructing your IRA plan administrator to transfer funds directly from your IRA account to the Wikimedia Endowment (Tax ID 87-3024488).
- Rollovers are excellent ways to make annual gifts or satisfy multi-year pledges.