If you are 70½ or older, you can make a significant impact on the Academy Center of the Arts through an IRA Charitable Rollover, also known as a Qualified Charitable Distribution (QCD).

Key Benefits:

  • Donate up to $100,000 annually directly from your IRA to qualified charities like ours
  • Satisfy your Required Minimum Distribution (RMD) without increasing your taxable income
  • Support our mission to enrich the community through arts and culture

Important Details:

  • Eligibility begins at age 70½
  • Contributions must come directly from your IRA custodian to the Academy Center of the Arts
  • Gifts can be made up to $100,000 per year
  • Donations count toward your Required Minimum Distribution (RMD)
  • The gift is not considered taxable income for you
  • While you cannot claim a charitable deduction, you avoid the income tax on those funds

How to Make Your Gift:

  1. Contact your IRA administrator to initiate the transfer
  2. Inform us of your plans so we can ensure proper processing and acknowledgment
  3. Consult with your tax advisor to confirm your specific tax implications

Additional Considerations:

  • The provision applies to Traditional and Roth IRAs
  • Gifts must be outright; they cannot be used to fund life-income gifts
  • Transfers must be made directly from the IRA to the Academy Center of the Arts

We’re here to help! If you have any questions or need assistance, please contact us at membership@academycenter.org.

Remember: Always consult with your financial advisor or tax professional to understand how this gift may impact your specific financial situation.

Let us help you with your gift plans

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Email us at membership@academycenter.org