The charitable IRA rollover, or qualified charitable distribution (QCD), is a special provision allowing certain donors to exclude from taxable income—and count toward their required minimum distribution -- certain transfers of Individual Retirement Account (IRA) assets that are made directly to public charities, including Chicago Shakespeare Theater.
Donors age 70 1/2 or older have used this popular option to support the theater with tax-wise gifts ranging from $100 to $100,000. A gift that qualifies, technically termed a “qualified charitable distribution,” must be:
- made by a donor age 70 1/2 or older;
- transferred from a traditional or Roth IRA directly to a permissible public charity, such as CST;
- and completed by December 31 of the corresponding tax year.
If you have any questions or need wire transfer information, please contact Director of Development Emily Hansen at ehansen@chicagoshakes.com.