A qualified charitable distribution from an IRA is a good way for IRA owners age 70½ and over to support our work. It’s easy to do.
IRA owners age 70½ or older may also choose to make a one-time, tax-free IRA distribution of up to $53,000 in 2024 to create a new charitable gift annuity (CGA) or a charitable remainder trust (CRT). The distribution counts toward your RMD if one is due. This is an option worth considering if you want to make a gift from your IRA and establish a new income stream.
Note that spouses may contribute up to $53,000 each in 2024 from their individual IRAs into a single CRT or a joint-life CGA. Payments may only go to you and/or your spouse.
Please contact us to learn more about planning and completing a qualified charitable distribution, or click here to calculate your required minimum distribution.
Making a planned gift—whether by including a bequest to the Museum in your will or by naming CHM as the beneficiary of a charitable remainder trust, life insurance policy, or retirement fund—provides essential support for the Museum’s future. Planned gifts can offer significant tax advantages and in some cases generate lifetime income for you or your chosen beneficiary.
Learn more about Estate and Gift Planning at CHM.
For a deeper look into various estate gift topics, explore our Planned Giving Resources Library.
For more information on how these gifts might work for you, contact us to learn more about Estate and Gift Planning.