IRA Gifts

Donors age 70½ and older can make tax-favored charitable gifts from their IRA accounts. Amounts given—up to a total of $100,000—will count toward required IRA withdrawal amounts. This distribution is not counted as income for federal tax purposes, and the entire amount goes to support the AWM. 

On December 18, 2015, the White House signed legislation indefinitely extending the charitable IRA rollover, making it retroactive to January 1, 2015, with no expiration date. The law allows individuals 70½  or older to transfer up to $100,000 tax-free from an IRA directly to public charities like the American Writers Museum.

Simply contact the bank or broker holding your IRA and ask them to send a gift to the American Writers Museum. The check from the IRA must be made payable directly from the IRA custodian to the American Writers Museum. In order to be tax-free, the check cannot be made payable to the donor.

For more information, consult your professional advisor or IRA administrator, or contact Linda Dunlavy, Director of Development at (312) 374-8762 or dunlavy@americanwritesmuseum.org.