IRA Charitable Rollovers

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IRA Charitable Rollovers

If you are a US taxpayer age 70½ 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

You can help us secure Wikipedia's future by making a tax-free charitable gift directly from your IRA. 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 a US taxpayer at least age 70½ or older at the time of the gift.
• In 2024, you're allowed to transfer to charity up to $105,000 per year.
• The rollover must come from your traditional or Roth IRA.
• 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 can be used to satisfy your required minimum distribution (RMD) which begins at age 73.
• 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
   P.O. Box 96887
   Washington, DC 20090-6887
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.

We value your support and are here to help you.

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, contact our Senior Planned Giving Specialist Jason Adams at jadams@wikimedia.org.

A few words from IRA donors

“My husband and I both love Wikipedia and use it multiple times per day. Because our age is over 70½ 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.”

“We no longer benefit from tax deductions and the best vehicle to continue our support is contributions directly from our IRA. We have money saved and have to take a lot out to satisfy our RMD, so we are able to give Wikipedia more than we did before giving from our IRA. ”

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 70½ years of age 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.