Qualified Charitable Distributions from an IRA
If you are age 70.5 or older, making a gift directly from your IRA to Special Olympics is a tax-smart way to support our athletes. Learn more here.
A Gift of Appreciated Securities
When you make a gift of appreciated securities, you may receive an immediate income tax charitable deduction as well as avoid capital gains taxes. You can find the information you need to make a gift of appreciated securities here.
Additional Ways to Support Special Olympics Now
For every Special Olympics champion, there is another who is waiting for a chance to win. You can make a gift right now to help use get more athletes on the playing field. Learn more about making a gift online, setting up a recurring gift, making a gift in honor or in memory, and more.
A qualified charitable distribution from your IRA is a simple and tax-smart way to make a gift that opens the door to a lifetime of inclusion and acceptance for everyone with intellectual disabilities!
How it Works:
- You must be 70½ or older.
- An individual may transfer up to a total of $100,000 per year and a married couple may give up to $200,000.
- Your gift must be transferred directly from your IRA account to Special Olympics.
- Your gift is a transfer of funds from your IRA to Special Olympics, so while you do not receive a charitable deduction, it does not create taxable income for you.*
- The transfer of funds can count towards your annual required minimum distribution from your IRA* if you are required to take one.
Simply contact your IRA administrator to request a QCD to Special Olympics. You may also be able to log-on to your online account. Please ask your administrator to include your name and contact information on your distribution so we can ensure you get the correct IRS acknowledgment.
If you have any questions, please contact us so we can assist you.
*Please Note:
If you turn 72 on or after January 1, 2023, you can now wait until you are 73 before you are required to take your Required Minimum Distribution from your IRA.
You may still make a gift to Special Olympics and other charities through a qualified charitable distribution starting at age 70½. However, if you make IRA contributions after age 70½, the amount you have available for qualified charitable distributions is reduced. Please consult your tax or financial advisor to learn how this may impact you.
You may also take a one-time distribution from your IRA to fund a charitable gift annuity. Learn more at Charitable Gift Annuities.
