IRA Qualified Charitable Distribution
If you are 70½ or older, you can make a tax-free gift directly to Nebraska Public Media from your Individual Retirement Account (IRA) now and for years to come.
How a Qualified Charitable Distribution Works
- Who? You must be 70½ or older to make a Qualified Charitable Distribution (QCD) to Nebraska Public Media.
- What? You can give up to $100,000 per year from your IRA.
- How? Instruct your IRA custodian to send a specific dollar amount directly to Nebraska Public Media. (You cannot withdraw the funds yourself.) Nebraska Public Media Foundation's tax ID number is 86-2239027. Your IRA custodian can send the gift by check or electronic transfer. Please let us know of your charitable intentions so we can ensure your gift is processed in an accurate and timely manner.
- When? Your gift must be completed on or before December 31 in order to count towards your Required Minimum Distribution (RMD) for the calendar year. For those using an IRA checkbook, please remember: The date of gift is when Nebraska Public Media receives the funds in our account, not when the check is postmarked. To avoid penalties for not taking your full RMD, be certain that checks from an IRA checkbook are sent in plenty of time to clear within the calendar year.
Benefits to You
- RMDs. Your donation will count towards your RMD for the current year. As of January 1, 2020, individuals must start taking RMDs at age 72. (Those who turned 70½ in 2019 must still take RMDs in 2019, 2020 and beyond).
- Tax Savings. You can exclude up to $100,000 of this gift from your federal gross income — resulting in lower taxable income and possible tax savings (A $200,000 exclusion may apply for taxpayers who are married and filing a joint return). This tax savings is especially valuable to donors who are non-itemizers and donors who have reached their limit on itemized charitable deductions.
- Impact. You will have the personal satisfaction of benefiting our community more than you may have originally thought possible.
Please consult with your financial advisor about this special opportunity.