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. The provision was first enacted for tax years 2006 and 2007, and has been extended periodically, most recently in January 2013, when it was made available for 2012 and for 2013.
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 CST; and completed in calendar year 2013 for the 2013 tax year.
Checks can be made out to Chicago Shakespeare Theater and mailed directly to:
Chicago Shakespeare Theater
800 East Grand Avenue
Chicago, IL 60611
If you have any questions, please contact the Advancement Office at 312.667.4952 or firstname.lastname@example.org