IRA Charitable Rollover

If you are 70½ years old or older, you can take advantage of a simple way to benefit The Phoenix Symphony and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity such as ours without having to pay income taxes on the money. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short.

This law no longer has an expiration date so you are free to make annual gifts to our organization this year and well into the future.

Why Consider This Gift?

  • Your gift will be put to use today, allowing you to see the difference your donation is making.
  • You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
  • If you have not yet taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.

Factors to Consider

  • The donor must be at least 70 ½ years of age on the date of the gift.
  • The donor can give up to $100,000 each year from his or her IRA(s). A couple with separate IRAs can donate up to $100,000 each from their respective IRAs.
  • Distributions must be made directly to a qualified charity by the plan administrator of an IRA. Retirement assets in 401(k), 403(b), SEP, or SIMPLE plans do not qualify but may be rolled into a new or existing IRA and transferred to the charity.
  • Distributions may only be made to 501(c)(3) tax exempt organizations and cannot be made to donor advised funds, private foundations, or supporting organizations.

Click here for a list of Frequently Asked Questions (FAQs).

Download a sample letter to send to your plan administrator to direct a qualified charitable distribution from an IRA to The Phoenix Symphony.

For more information, please contact Bob Bondlow, Major Gifts Officer, at 602-452-0421 or rbondlow@phoenixsymphony.org.