IRA Distributions and Rollovers

If you have an IRA, when you reach the age of 72, you must begin taking required minimum distributions (RMDs). You can make gifts to qualified public charities directly from your IRA (“Qualified Charitable Distributions” or “QCD’s”) without the distributions being counted as gross income. Learn more at IRS.gov.

QCDs must come from an IRA (traditional or Roth) and not another kind of retirement account. No goods or services may be provided to donors in exchange for this type of gift. QCDs count toward a donor’s required minimum distributions for the year in which the gift is made.

401K’s and other plan accounts are not eligible, although you may be able to roll over funds from one of these accounts into an IRA and then make a QCD from the IRA in a subsequent year.

Another reason to make a QCD is to receive a tax benefit whether you’ve itemized deductions or taken a standard deduction. QCD’s can also allow you to make a charitable gift using your assets instead of current income.

You should consult your tax advisor for specific information regarding deductibility and other matters of tax law as they pertain to your circumstance.

The official legal name of our organization is: "Newark Public Radio, Inc."

Our federal taxpayer identification number is: 22-2137728

WBGO is located at: 54 Wayne Shorter Way Newark, NJ 07102

For more information, please contact John Newcott, Director of Individual Giving: (973) 643-4302 jnewcott@wbgo.org

As always, we cannot thank you enough for your continued support.