{"id":26436,"date":"2021-08-26T17:33:04","date_gmt":"2021-08-26T17:33:04","guid":{"rendered":"https:\/\/solvecfs.org\/?page_id=26436"},"modified":"2023-12-18T19:55:47","modified_gmt":"2023-12-18T19:55:47","slug":"ira-daf-distribution","status":"publish","type":"page","link":"https:\/\/solvecfs.org\/donate\/ira-daf-distribution\/","title":{"rendered":"DAF + IRA Distribution"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"26436\" class=\"elementor elementor-26436\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-22ef5139 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"22ef5139\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-67223c85\" data-id=\"67223c85\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5efd7d93 elementor-widget elementor-widget-ha-breadcrumbs happy-addon ha-breadcrumbs happy-addon-pro\" data-id=\"5efd7d93\" data-element_type=\"widget\" data-widget_type=\"ha-breadcrumbs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<ul class=\"ha-breadcrumbs\"><li class=\"ha-breadcrumbs-item ha-breadcrumbs-start\"><a href=\"https:\/\/solvecfs.org\/\" rel=\"home\"><span class=\"ha-breadcrumbs-text\">Home<\/span><\/a><\/li><\/ul>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7d5f3e50 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7d5f3e50\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-761bbd0d animated-fast\" data-id=\"761bbd0d\" data-element_type=\"column\" data-settings=\"{&quot;animation&quot;:&quot;none&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5b0724fd elementor-widget elementor-widget-heading\" data-id=\"5b0724fd\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">DAF & IRA Distribution<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-52a69a82 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"52a69a82\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2c9073d9\" data-id=\"2c9073d9\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3d5868f7 elementor-widget elementor-widget-heading\" data-id=\"3d5868f7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How Donor-Advised Funds (DAF) Work<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-74347689 elementor-widget elementor-widget-text-editor\" data-id=\"74347689\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>As a donor, you have the option of directing gifts to a charitable organization through a donor-advised fund. Your contribution to qualifying DAFs (often held at community foundations and large financial institutions) is treated by the Internal Revenue Service (IRS) as a charitable contribution at the time that it\u2019s made. You then gain the flexibility of advising the DAF when and to which charitable organizations you\u2019d like to make a gift.\u00a0<\/p><p>IRS regulations prohibit the donor, donor advisor, or the donor\u2019s family member from receiving any benefit in excess of an incidental one as a result of a DAF distribution. A donor\u2019s receipt of a benefit that is more than incidental (referred to as an \u201cimpermissible benefit\u201d), may result in problems for the entity maintaining the DAF (e.g., loss of tax-exempt status) and\/or the donor and\/or family member (e.g., significant excise taxes). It could also put the charitable organization to which the gift was given at risk of losing future funding from the DAF.<\/p><p>For information regarding your legal or tax situation, please consult your own professional advisor.<\/p><p>For any additional questions, please contact our Director of Development at<strong> (704) 364-0016 Ext 1207.<\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7d75c7a elementor-widget elementor-widget-heading\" data-id=\"7d75c7a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Make A Tax-Free Donation to Solve M.E. Directly From Your IRA<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0bf533d elementor-widget elementor-widget-text-editor\" data-id=\"0bf533d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>As of 2021, an\u00a0<a href=\"https:\/\/www.irs.gov\/retirement-plans\/retirement-plans-faqs-regarding-required-minimum-distributions\" target=\"_blank\" rel=\"noopener\">IRS provision<\/a>\u00a0allows retirees age 72 years and older to donate up to $100,000 tax-free from their IRA each year to a qualified charity, such as Solve M.E.<\/p><p>Generally, when you take a distribution from your IRA, it is treated as taxable income. Under this provision, the assets are excluded from income if the distribution is made directly to charity.<\/p><p>The distribution is not included in your income so you avoid all the effects that a regular IRA withdrawal creates, including taxes on Social Security benefits. Distributions excluded from income are also equivalent to a 100% deduction. Normally, charitable contribution deductions are limited to a lower percentage (or are eliminated altogether) for taxpayers who do not itemize and take the standard deduction. Contact your personal IRA administrator to initiate your charitable contribution.<\/p><p><em>Click\u00a0<a href=\"https:\/\/solvecfs.org\/wp-content\/uploads\/2023\/12\/Sample-Letter-of-Request-for-distribution-from-IRA-12.18.2023.docx\">here<\/a>\u00a0to download a sample letter to request IRA distribution.<\/em><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3f29689 elementor-widget elementor-widget-heading\" data-id=\"3f29689\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Guidelines for Donating IRA Distributions To a Charity<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-edf6615 elementor-widget elementor-widget-text-editor\" data-id=\"edf6615\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>ELIGIBILITY<\/strong><br \/>IRA account owner must be age 72\u00a0or older at time of IRA distribution in order to take advantage of this provision. Rule applies only to Traditional, Rollover, and Roth IRAs. SEPs and SIMPLE IRAs are generally excluded. Distributions of non-deductible IRA contributions also do not qualify.<\/p><p><strong>ANNUAL LIMIT<\/strong><br \/>Maximum amount of a taxpayer\u2019s qualified charitable distribution must not exceed $100,000 per tax year and may include required minimum distributions (RMDs).<\/p><p><strong>QUALIFICATIONS<\/strong><br \/>Distribution must be made to a qualifying charity. Private foundations and donor-advised funds are not eligible. The Solve ME\/CFS Initiative (Solve M.E.) is a qualifying 501(c)(3) nonprofit charity; Federal Tax Identification is 56-1683450.<\/p><p><strong>DIRECT CONTRIBUTION<\/strong><br \/>The IRA Trustee or custodian must make the distribution directly to the charity. Distributions made payable to the IRA owner and transferred to the charity will not qualify.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Home DAF &#038; IRA Distribution How Donor-Advised Funds (DAF) Work As a donor, you have the option of directing gifts to a charitable organization through a donor-advised fund. Your contribution [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"parent":270,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"sfsi_plus_gutenberg_text_before_share":"","sfsi_plus_gutenberg_show_text_before_share":"","sfsi_plus_gutenberg_icon_type":"","sfsi_plus_gutenberg_icon_alignemt":"","sfsi_plus_gutenburg_max_per_row":"","footnotes":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>DAF + IRA Distribution - Solve ME\/CFS Initiative<\/title>\n<meta name=\"description\" content=\"The Solve ME\/CFS Initiative (Solve M.E.) is a non-profit organization that serves as a catalyst for critical research into diagnostics, treatments, and cures for myalgic encephalomyelitis\/chronic fatigue syndrome (ME\/CFS), Long Covid and other post-infection diseases.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/solvecfs.org\/donate\/ira-daf-distribution\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DAF + IRA Distribution - 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