Donate an IRA and Other Retirement Assets

Transform Your Legacy and RMD into a Powerful Force For Good

 

By choosing to donate an IRA or other retirement assets, you become an instrumental part of Rock to the Future's legacy. Your support not only enriches the lives of young people we serve but also leaves a lasting imprint on the future of music education.

If you're age 72 or older, the IRS mandates Required Minimum Distributions (RMDs) from most retirement accounts each year. However, there's a powerful way to turn these distributions into a force for good – through a Qualified Charitable Distribution (QCD) to Rock to the Future.

 

What is a Qualified Charitable Distribution (QCD)?

A QCD allows you to direct up to $100,000 annually from your Individual Retirement Account (IRA) directly to your favorite charity, like Rock to the Future. By doing so, you not only support our mission of empowering the next generation through music education, but you also enjoy significant tax benefits.

 

Key Benefits of a QCD:

  1. Satisfy RMDs: Contributions made through a QCD can count towards fulfilling your Required Minimum Distributions for the year, providing a streamlined way to meet IRS obligations.

  2. Tax Exclusion: The amount donated through a QCD, up to $100,000 annually, is excluded from your gross income. This can result in significant tax savings and a more efficient way to support our cause.

  3. Tax-Free Charitable Giving: If you're at least 70½ years old, you can make tax-free charitable donations directly from your IRA. These gifts, which would otherwise be taxable IRA distributions, can now directly impact the lives of aspiring musicians.

 

How to Make a QCD:

  1. Contact Your IRA Administrator: Inform your IRA administrator of your intent to make a Qualified Charitable Distribution to Rock to the Future.

  2. Specify the Amount: Clearly specify the amount you wish to donate, up to the annual limit of $100,000.

  3. Ensure Compliance: Work closely with your financial advisor to ensure compliance with IRS regulations and maximize the benefits of your charitable contribution

 

Ready to transform your RMD into a powerful force for good? Contact us today to explore the possibilities of donating your IRA or other retirement assets.

Christine Dancey, Individual Giving Manager at Christine@RocktotheFuture.org