Charitable IRA Distributions

Special Tax Savings Opportunities
for Many Retirees Who Give to the West Chester Food Cupboard

Do You Qualify?
  • Are you at least age 70½?
  • Do you own an IRA and take a Required Minimum Distribution (RMD) each year?
  • If so, your contribution can be “tax-deductible,” even if you do not itemize.
How Is That Deductible?
  • IRA distributions that you direct to the Cupboard do not count as taxable income, even though they count towards your RMD.
What Are the Benefits to the Cupboard?
  • The Cupboard receives the full amount of your intended gift, not reduced by taxes.
  • The funds can be received early in the year, if you wish. You can contribute a lump sum or periodic payments.
What Is the Procedure?
  • Contact your IRA provider and request a “Charitable Distribution” check be made payable to “West Chester Food Cupboard”.
  • This distribution will count toward your RMD but will not count as taxable income for you.
  • Note that different IRA providers have different procedures. Some mail the check to you, and you must deliver it to the Cupboard. Some mail it directly to the Cupboard.
For specific tax advice as it relates to you individually, please consult with your adviser.