At Housing Hope, we know that each and every donor is unique in the way they want to graciously make contributions toward the causes that are close to their heart. When it comes to making a charitable donation, we often think of large checks, fancy dinners, or even the simple monthly recurring donation. One style of donation that can often get overlooked though is specifically for older adults; a stock rollover. An IRA rollover, also known as a Qualified Charitable Distribution (QCD), is a powerful way to donate stocks or cash directly from your IRA to a qualified nonprofit like us. Here's how it works and how you can make the most of this giving strategy with your donations to Housing Hope!
What Is an IRA Rollover Charitable Donation?
An IRA rollover allows individuals aged 70½ or older to transfer up to $100,000 per year directly from their Individual Retirement Account (IRA) to a qualified nonprofit. These donations count toward the Required Minimum Distribution (RMD) for those aged 73 and above and are not included in taxable income, making it a win-win for both the donor and us on the nonprofit side.
Benefits of an IRA Stock Rollover Donation
Tax Advantages: Since the donation doesn’t count as taxable income, you can reduce your overall tax burden.
Fulfill RMD Obligations: If you're required to take RMDs, a QCD can help you meet the requirement without increasing your tax liability.
Support a Cause You Love: By donating directly, you ensure your gift goes further for Housing Hope without the IRS taking a cut.
How to Make an IRA Stock Rollover Donation to Housing Hope
Confirm Eligibility: You must be at least 70½ years old to make a QCD, and the transfer must come directly from your IRA. Other retirement accounts, like 401(k)s, may need to be rolled into an IRA first.
Coordinate with Your IRA Custodian: Contact your IRA provider and inform them you want to make a QCD to Housing Hope. They’ll handle the direct transfer of funds or stock to us. Be sure to provide the following information to your custodian:
Housing Hope 5830 Evergreen Wy, Everett, WA 98203 Tax Identification: # 94-3060709
Notify Housing Hope: Let us know of your pending gift so we can acknowledge it properly for your records, and give you a proper THANK YOU!
Keep Documentation: You’ll receive official documentation from us about your donation. You will need these for your records and tax purposes. If you do not receive these documents, please reach out to us at giving@housinghope.org and we will make sure they are sent your way promptly.
Thank you so much for considering an IRA Rollover donation benefiting Housing Hope. Charitable gifts like these are vital to our continued mission of supporting affordable housing, job training and education programs, and childcare for our neighbors in need across Snohomish County.
>> Want some extra reading on this type of donation? Here's an article from Forbes with some additional information on IRA rollovers!