If you are 70½ or older and have an IRA, you are already qualified!
How a Qualified Charitable Distribution (QCD) From Your IRA Works
You are at least 70 ½ years old with IRA funds you no longer need
Make a QCD from your IRA*
*If you are 73 years old or older, your QCD can count toward your required minimum distribution (RMD)!
Your QCD goes directly to charity, supporting a cause you care about
Did You Know?
You can also support our mission for years to come by naming TGen as a beneficiary of your IRA account. You can designate TGen to receive a percentage of the account value, leaving the remainder to your heirs.
Sample Beneficiary Designation
Legal name: Translational Genomics Research Institute Foundation
Address: 445 N. Fifth St., Phoenix, AZ 85004
Federal Tax ID number: 33-1092191
Discover the Benefits of a QCD
Reduce Your Taxable Income
When you take funds from your IRA, they count as taxable income. But if you transfer them directly to charity, you reduce your taxable income while satisfying your RMD.
Fulfill your Required Minimum Distribution (RMD)
After you turn 73, you must distribute funds from your IRA. If you do not distribute the required minimum, you may be penalized, but a QCD allows a transfer up to $105,000 per individual or $210,000 per couple to satisfy your RMD.
Advance Lifesaving Research and Patient Care
When you make a QCD from your IRA to TGen, you will help us accelerate genomic discoveries toward patient care today.
Tax Law Disclaimer
- The SECURE Act raises the RMD age. If you turn 70 ½ on or after January 1, 2020, you can now wait until you are age 73 before you must take an RMD from your IRA.
- You can still make a gift to TGen and other charities through a QCD starting at age 70 ½. However, if you make IRA contributions after age 70 ½, as allowed under the SECURE Act, the amount you have available for QCDs is reduced. Please consult your tax or financial advisor to learn how this may impact you.
- The SECURE Act repeals the maximum age for making IRA contributions. You can now contribute to your IRA even if you are over age 70 ½ (subject to annual limitations).
- The SECURE Act decreases the time over which inherited IRAs may be distributed. Inherited IRAs must now be distributed completely within 10 years of the IRA owner’s death, unless the IRA beneficiary is the surviving spouse, disabled or chronically ill, less than 10 years younger than the owner, or the owner’s minor child. Under these rules, naming TGen as a beneficiary of your IRA while using other assets to benefit family members may be a tax-wise charitable planning decision.
Find Out if a Qualified Charitable Distribution Is Right for You
| I was born before . | Yes | No |
|---|---|---|
| I have a qualified IRA. | Yes | No |
| I want to shape the future of health care. | Yes | No |
You’re qualified to make this type of gift!
It looks like there are still some requirements that need to be met!
Take Your Next Steps
STEP 1
Get started by selecting your IRA administrator and filling out your information below. This information will be used to pre-fill your distribution form.
STEP 2
Once you have downloaded and completed the rest of your form, please mail the form to your IRA administrator. We recommend mailing this by December 1 to ensure you receive your tax deduction for this year.
STEP 3
Please let us know about your generous gift!
We would greatly appreciate being informed of your generosity so that we can be prepared to provide a proper and timely IRS acknowledgment. Please note that the IRS does not permit QCDs from an IRA to satisfy event registration fees or membership dues.