ESTATE AND ASSET GIVING
Required Minimum Distributions
Receive a charitable deduction while complying with IRS distribution guidelines.
At age 72 (SECURE ACT 1/1/2020), IRS regulations require individuals with qualified retirement accounts to begin taking minimum withdrawals from their account, which is also known as Required Minimum Distributions (RMD).
To avoid the risk of a higher tax bracket, you can also gift your Individual Retirement Account RMD to charity. You’ll benefit by not including the donated RMD in your income while supporting Love Columbia’s mission to love people forward.
To donate all or a portion of your RMD:
Contact your retirement administrator, notifying them you would like to donate your RMD directly to Love Columbia.
You will need to provide the following to your IRA administrator:
Love Columbia Tax ID: 20-8801850
Love Columbia Address:
Love Columbia
1209 E Walnut
Columbia, Mo 65201
Your administrator will disperse the funds directly to Love Columbia. This direct disbursement avoids federal tax on the RMD.
Mail distributions to:
Love Columbia
Attn: IRA Processing
1209 E Walnut
Columbia MO 65201
Tax ID: 20-8801850
Email us at giftplanning@lovecolumbiamo.org with the name of the IRA administrator and where you would like the funds to be designated, most commonly to the General Fund.
In addition to your RMD, you can gift a larger portion of your qualified retirement account to Love Columbia. In 2016, Congress re-instated the IRA Charitable Rollover (Qualified Charitable Distribution), which allows IRA account owners who are at least 70 ½ years old to gift up to $100,000 from their account to a qualified charity in a calendar year.
In addition to your RMD, you can gift a larger portion of your qualified retirement account to Love Columbia. In 2016, Congress re-instated the IRA Charitable Rollover (Qualified Charitable Distribution), which allows IRA account owners who are at least 70 ½ years old to gift up to $100,000 from their account to a qualified charity in a calendar year.