Giving with Your IRA

There are many ways to support Texas CASA – an often over-looked giving option is a gift from your Individual Retirement Account (IRA).

If you are 70½ or older, you are required to distribute funds annually from your IRA. This mandatory distribution often creates a tax burden. But federal law* allows you to make direct, annual transfers up to $100,000 from your IRA directly to Texas CASA without paying income taxes on the distribution.

These “qualified charitable contributions” can significantly lower your taxable income, and a direct transfer to Texas CASA from your IRA counts toward your required minimum distribution. A gift from your IRA may help to neutralize the negative tax consequences of a required minimum distribution.

*Established under the Pension Protection Act

To qualify for the IRA charitable transfer, the gift:

  • Must come directly from your IRA administrator.
  • Should be made payable to Texas CASA (your IRA administrator should include your name and note that it is a gift).
  • Should be mailed to:
    Texas CASA
    1501 W. Anderson Lane, B-2
    Austin, TX 78757

Texas CASA’s Tax Identification No. is 75-2252358.

Source: Fidelity Charitable. For more information click here.