If you are 70 ½ or older, did you know that you can use all or part of your Required Minimum Distribution (RMD) from your IRA to make a tax-favored gift to your Oregon Symphony?
You can avoid taxes, fees, and other penalties by making a direct transfer, known as a Charitable Qualifying Distribution or an IRA charitable rollover, of up to $100,000 to the Oregon Symphony Association. And, it’s easy to set up – just notify your IRA administrator.
To make the most of your Charitable Qualifying Distribution, it is important to not withdraw funds prior to a gift. You should arrange through your IRA administrator to distribute the gift amount directly from your IRA to the Oregon Symphony Association. A gift made this way before Dec 31, 2020, counts toward your RMD for the 2020 tax year.
For more information on Charitable Qualifying Distributions from your IRA, contact the development team at 503-416-6325 or email@example.com. You should also consult with your IRA administrator or your tax advisor to discuss your plans before proceeding. The Oregon Symphony Association Federal Tax ID number is 93-0446527.
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