When you reach age 72 (or 70 1/2 if you reached 70 1/2 before December 31, 2019), you can direct all or part of the annual required minimum distribution (up to $100,000 per individual in a calendar year) from a traditional IRA to JFCS. By doing so, you pay no taxes on the distribution while helping our Bay Area neighbors most in need.
Your benefits include:
- Reducing your taxable income while simultaneously benefitting our community
- The opportunity to direct the distribution to create a new Named Endowment Fund, add to an existing Named Endowment Fund, or satisfy an existing pledge to JFCS
NOTE: The distribution cannot be directed to a Donor Advised Fund, nor used to pay for tickets to an event.
How to make your gift:
- Contact your IRA custodian, requesting that a specified amount of your distribution be made directly to JFCS, Tax ID 94-1156528
- Notify JFCS that your gift is on the way and let us know how you would like it to be used
Thinking of leaving a bequest? You can also designate JFCS as an eventual beneficiary of your IRA.
If you make a contribution to your IRA this year, the amount you are allowed to give tax-free through a Charitable IRA Rollover may be reduced by the amount added to your IRA.
As with all important financial decisions, you may want to consult legal and financial professionals for advice.