IRA Charitable Rollover Gifts

You can give any amount (up to a maximum of $108,000) this year directly from your IRA to a qualified charitable organization, such as WDAV (a licensee of Davidson College), without incurring any income taxes on that money. Contributions of $108,000 or less are eligible for this benefit, and you can feel good knowing that you are making a difference for the station. This popular gifting option is commonly known as the IRA charitable rollover, but you may also see it referred to as a Qualified Charitable Distribution, or QCD for short.

Information for Directing IRA Rollover Distributions

You should request that your plan administrator mail your distribution to the following address:

Davidson College – WDAV
209 Ridge Rd
Box 5000
Davidson, NC 28035

NOTE: Your IRA administrator may have an available form for your use in such requests. If not, here’s a sample that you can use – IRA Charitable Distribution Letter to Plan Administrator Sample (PDF).

Need Additional Information?

• Contact your IRA trustee or administrator for specific details on your plan.
• Contact Emily Rector, Director of Major Gifts and Philanthropy, at 877-333-8990 or emrector@wdav.org.edu with any questions related to the station’s information.

Frequently Asked Questions

Q. I’ve already named WDAV as the beneficiary of my IRA. What are the benefits if I make a gift now instead of after my lifetime?
A. By making a gift this year of up to $108,000 from your IRA, you can see your philanthropic dollars at work. You are jump-starting the legacy you would like to leave and giving yourself the joy of watching your philanthropy take shape. Moreover, you can fulfill any outstanding pledge you may have already made by transferring that amount from your IRA under this legislation as long as it is $108,000 or less for the year.

Q. I’m turning age 70½ in a few months. Can I make this gift now?
A. No. You must be 70½ by the date you make the gift.

Q. Can my gift be used as my required minimum distribution (RMD) under the law?
A. Yes! Beginning in the year you turn 73, you can use your gift to satisfy all or part of your RMD.

Q. Do I need to give my entire IRA to be eligible for the tax benefits?
A. No. You can give any amount under this provision, as long as it is $108,000 or less this year. If your IRA is valued at more than $108,000, you can transfer a portion of it to fund a charitable gift.

Q. I have two charities I want to support. Can I give $108,000 from my IRA to each?
A. No. Under the law, you can give a maximum of $108,000. For example, you can give each organization $54,000 this year or any other combination that totals $108,000 or less. Any amount of more than $108,000 in one year must be reported as taxable income.

Q. My spouse and I would like to give more than $108,000. How can we do that?
A. If you have a spouse (as defined by the IRS) who is 70½ or older and has an IRA, they can also give up to $108,000 from his or her IRA.

It is wise to consult with your tax professionals if you are contemplating a charitable rollover gift. Contact Emily Rector, Director of Major Gifts and Philanthropy at 877-333-8990 or emrector@wdav.org with any questions you may have.

The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.