A Special Giving Opportunity With Your IRA

Take advantage of a popular, tax-smart option for giving that expires at the end of 2013. As part of the American Taxpayer Relief Act of 2012, donors age 70-1/2 or older once again can make qualified charitable distributions from their Individual Retirement Accounts (IRAs) directly to MPR without those distributions being counted as gross income!

Here are some important notes and highlights:

  • The distribution must be made from a traditional or Roth IRA. Other retirement accounts, such as those under 401(k), 403(b), or 401(a) plans, are not eligible.
  • You must be at least 70-1/2 years of age when the distribution is made.
  • You can give up to $100,000 per year without including the distribution in your gross income. Married couples may be able to give up to $200,000. Amounts given count toward your annual required minimum distribution.
  • Distributions cannot be made to private foundations or donor advised funds under this provision. Recipients must be qualified public charities like MPR.
  • The distribution must be made directly from the IRA administrator to MPR or other qualified public charity (rather than to you).
  • Gifts under this provision must be made outright, and cannot be used for any quid pro quo benefits or to establish a charitable gift annuity or charitable remainder trust.

You may make qualified charitable distributions from your IRA throughout 2013. Because circumstances may vary from person to person, you should discuss your plans with your own professional tax advisor.

To make the process easier and simpler, we have prepared two sample letters for use in communicating your wishes to us and to your IRA administrator. Both forms should be completed and mailed. These letters are important because they allow us to provide the proper receipt for your gift. Please click on the links below to download the sample forms:

Letter to IRA Administrator to Request Qualified Charitable Distribution from IRA to Minnesota Public Radio
Download the IRA Administrator document

Letter Notifying Minnesota Public Radio of Charitable Distribution from IRA
Download the Charitable Distribution from IRA document

As always, we encourage you to contact Joe Thiegs (651.290.1583 or jthiegs@mpr.org) or Paul Odegaard (651.290.1129 or podegaard@mpr.org) in MPR’s Planned Giving department for answers to questions, copies of the form letters, and other helpful assistance.