1. Support FCNL

Give from Your IRA

By Barbara Price Monahan


Good news! Congress has made permanent the IRA Charitable Rollover originally enacted in 2006. This means that if you are 70 1/2 years or older, you can make a gift to FCNL Education Fund directly from your IRA and it won’t count towards your taxable income for the year.

The provision permanently extends the ability of individuals at least 70 1/2 years of age to exclude from their gross income qualified charitable distributions from Individual Retirement Accounts (IRAs). The exclusion may not exceed $100,000 per taxpayer in any tax year.

FCNL Education Fund

Qualified charitable distributions must be transferred directly from your IRA custodian to the FCNL Education Fund by December 31 in order to be counted as qualified charitable distributions.

An easy way to start an IRA Charitable Rollover is to send an email to your IRA custodian (see sample below). This is usually a financial services company that manages your IRA. Please check their website for the correct email address. If you use the sample letter to your IRA custodian, below, please enter your account number in the blank, and please email me that the transfer is pending so we may notify you when it’s received and thank you for your gift.

As with all gifts of this nature, you should consult with your financial/tax advisor.

If you have additional questions for FCNL, please email me at bmonahan@fcnl.org or call me (800) 630-1330, ext. 2520.

Thank you for all you have done and continue to do for FCNL.

Sample letter to IRA custodian:

Dear IRA Custodian,

Recent legislation permits a rollover directly from an IRA to a qualified public charity. As the owner of IRA account #_________________ that is in the custody of your company, I request that you transfer from that account the sum of $_________________ to the FCNL Education Fund, 245 Second St. NE Washington, DC 20002. The Treasury Tax ID Number for the FCNL Education Fund is 52-1254489.

It is my intention to make a Qualified Charitable Distribution (QCD) to the FCNL Education Fund from my IRA, which may fulfill part or all of my IRA required minimum distribution to be counted for the current tax year.

This letter is sufficient authorization for you to make this QCD gift. However, if you require any further documents, please promptly send those to me. Please include my name and address in the reference line of the check.

Sincerely,

Your name
IRA Owner

Barbara Price Monahan

  • Associate Executive Secretary for Development

Barbara Price Monahan leads FCNL’s efforts to raise annual, capital and planned gifts that support FCNL’s advocacy, education and outreach. Barbara and her staff are responsible for raising over $3.8 million per year in general operating support from individuals, foundations and organizations, including Quaker meetings and churches.