Qualified Charitable Distribution
Make a Meaningful Impact for Parrots Through your IRA
In your retirement, you can continue to support the causes that are important to you.
If you are age 70½ or older and live in the United States, you can take advantage of a simple way to support parrots and receive a tax benefit in return. By using a Qualified Charitable Distribution (QCD) from your Individual Retirement Account (IRA) — also called an IRA charitable rollover — you can make a tax-free gift to parrots through the World Parrot Trust.
Planned gifts play a crucial role in WPT's continued ability to save endangered species by supporting innovative and effective conservation programs.
The Details:
- You must be age 70½ or older.
- You may transfer up to $100,000 annually.
- You pay no income tax on your gift. As a 501(c)(3) registered charity, the transfer to WPT generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your tax deductions. To qualify, the donation must go directly from your IRA account to WPT.
- For those at least 73 years old if have not yet taken your required minimum distribution (RMD) your gift can satisfy all or part of that requirement.
Next Steps:
- Seek the advice of your financial advisor.
- Contact your IRA trustee and request a direct transfer to WPT at the following address:
World Parrot Trust, USA, Inc.
PO Box 985 Travelers Rest, SC 29690
Tax ID: 62-1561595
US Date of Incorporation: 2/28/1994
- Let us know to watch for it so we can thank you when it arrives!
Have questions? Get in touch or read the FAQ.
Donor Relations
World Parrot Trust-USA
PO Box 985 Travelers Rest, SC 29690
(864) 610-2129 or [email protected]
FREQUENTLY ASKED QUESTIONS
What is the IRS Rule?
The IRA Charitable Transfer allows individuals age 70½ and older to make direct transfers totalling up to $100,000 per year to 501(c)(3) charities, without having to count the transfers as income for federal income tax purposes. No charitable deduction may be taken, but distributions will qualify for all or part of the IRA owners required minimum distributions.
Who qualifies?
Individuals who are age 70½ or older at the time of the contribution (you have to wait until 6 months after your 70th birthday to make the transfer).
Example: Sue is 71 and wants to make a contribution to the World Parrot Trust. She has $100,000 in her IRA and she wants the contribution to be $5,000. She can authorize the administrator of her IRA to transfer $5,000 to the World Parrot Trust. Because the IRA Charitable Transfer is excluded from income, Sue will not be eligible for a charitable income tax deduction but she still receives tax savings. The $5,000 distributed to the World Parrot Trust will be counted toward her annual Required Minimum Distribution (RMD) and she will not pay income tax on the portion given to charity.
How much can I transfer?
$100,000 per year. The transfer must be outright to charity.
From what accounts can I make transfers?
Transfers must come from your IRAs directly to the World Parrot Trust. If you have retirement assets in a 401k, 403b etc., you must first roll those funds into an IRA, and then you can direct the IRA administrator to transfer the funds from the IRA directly to the World Parrot Trust.
To what charities can I make gifts?
Tax exempt organizations that are classified as 501(c)(3) charities, including the World Parrot Trust, to which deductible contributions can be made.
Important: Be sure to check with your financial advisor to determine whether this gift plan is right for you. This information is not meant as tax or legal advice. Visit the IRS website to learn more.
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