IRA Charitable Rollover

IRA Charitable Rollovers

If you are a US taxpayer age 70.5 or older, you may be eligible for the IRA Charitable Rollover, also known as a Qualified charitable distribution (QCD).
These tax-advantaged distributions allow you to make a gift to the Wikimedia Endowment from your IRA without paying income tax on the amount transferred.

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.

How to make your gift

1. Instruct your IRA administrator to make your check payable to Wikimedia Endowment and mail it directly to us at:
   Wikimedia Endowment
   PO Box 98204
   Washington, DC 20090
2. To help us properly credit and acknowledge your gift, ask your IRA administrator to include a cover letter with your name, email, and mailing address so we can properly acknowledge your gift.

If you have any questions about making an IRA gift, or if you’ve already made a gift and need another copy of your tax receipt, please contact legacy@wikimedia.org.

A few words from monthly supporters

“My husband and I both love Wikipedia and use it multiple times per day. Because our age is over 70.5 and we don't have to pay taxes on charitable contributions that we make directly from our IRA account, this is how we give now. This enables us to make larger contributions.”

“I love Wikipedia and now make donations from my IRA to satisfy my RMD. I used to send a check annually but now I can continue to support your work in a way that benefits everyone.”

“This is the second time that I've signed on to make a small monthly donation to Wikipedia because I find it to be an invaluable resource that I use daily. As long as I'm able, I will continue to donate what I can, for as long as I can, because Wikipedia gives real value and entertainment to inquisitive minds. Thank you for all you do.”

Did you know?

If you’re not in a position to make an IRA Charitable Rollover during your lifetime, you can use your IRA to make a planned gift to Wikimedia in the future. To do so, simply name Wikimedia as a beneficiary of all or a percentage of your IRA by contacting your plan administrator and requesting a Beneficiary Designation Form.

Thanks to new legislation, if you’re 70.5 or older you can use your IRA Charitable Rollover to fund a charitable gift annuity (CGA) and satisfy your RMD. Contact legacy@wikimedia.org to learn more.