If you are over age 70½, you may give a gift from your IRA as a tax-free distribution to Home of the Innocents.

This means an amount (up to $100,000 annually under current law) transferred from your IRA directly to Home of the Innocents can count toward your required minimum distribution without being considered taxable income for you. The distribution, also known as an IRA Charitable Rollover, is authorized by Section 408(d)(8) of the Internal Revenue Code. As always, please consult your advisor to determine if this type of gift is right for you.

A donation transferred directly from your IRA to Home of the Innocents is not considered taxable income on your federal income tax return, but it does count toward your required minimum distribution.

Everyone’s financial and tax situations are unique, so it is essential to discuss this opportunity with your tax preparer or financial advisor. For example, a reduction in your gross income could prevent the loss of some exemptions or deductions or result in fewer Social Security benefits being subject to tax.

This transfer, known as a Qualified Charitable Distribution (QCD), not only provides tax benefits that you couldn’t get otherwise, but also provides an opportunity to make a significant gift that will support children who desperately need your help.

For more information, fill out the form below, or contact Cathy Galante, Vice President of Development, at 502.596.1064 or cgalante@homeoftheinnocents.org.