Individuals with a contributory, rollover, or SEP IRA are required to withdraw a “minimum distribution” annually (“RMD”) upon reaching a certain age designated by the Internal Revenue Service. The distribution is considered ordinary income and is taxed at your tax rate. The amount of RMD is calculated based on IRS guideline tables. Visit the IRS website for more information.
You may consider donating all or a portion of an RMD to charity. This is called a Qualified Charitable Donation. If the gift is made payable to the charity, the donation is not taxable. We suggest speaking to your financial advisor or CPA for more information.
To make an IRA Charitable Contribution to help people with Parkinson’s improve their speech and swallowing, direct your contribution to be sent to:
Parkinson Voice Project
646 North Coit Road, Suite 2250
Richardson, Texas 75080
Parkinson Voice Project’s EIN is 20-3940037. Please email [email protected] if you would like to notify us of your upcoming IRA charitable contribution or have any questions.
