Donor-advised funds allow you to donate to the IMF with gifts of stock, securities, or IRA distributions. These options are the best ways to receive additional tax benefits through your philanthropic giving. Should you or your financial advisor have additional questions, please contact Jennifer Scarne, IMF's Chief Financial Officer, at 800-452-2873 ext. 238.
If you donate stock owned for more than a year that has a capital gain, you get a full charitable donation credit for the value of the stock on the date it is received by the IMF.* You avoid paying any taxes on the capital gain!
*Stock held for less than one year does not qualify for this tax treatment. Please consult your tax advisor for the most current IRS rules.
To make transferring stocks easy, you can use our online tool to:
- Walk you through the process of transferring assets in less than 5 minutes; or
- Access our transfer information and work directly with your broker to transfer your stocks.
Congress restored the IRA gift option for donors age 70½ and over, including the provision to permanently restore the law allowing donors to make charitable gifts from their IRA accounts during tax year 2015 and beyond without incurring income tax on the withdrawal. When you are 72 years old, you are required to take a minimum withdrawal, and if you do not need them for personal use, this may be a great way to make a gift to the IMF. While you cannot claim a charitable deduction for IRA gifts, you will not pay income tax on the amount.
Benefits—Qualified charitable distributions:
- Can total up to $100,000 in each tax year (if your spouse has a separate IRA account, you can each contribute up to $100,000 per tax year);
- Can be excluded from your gross income for federal income tax purposes on line 15a of Form 1040 (no charitable deduction is available, however);
- Can be used to satisfy your Required Minimum Distribution (RMD);
- Are not subject to the 50% deductibility ceiling or the 2% rule.
How to Qualify:
- You must be age 70 ½ or older at the time of the gift.
- Transfers must be made from a traditional or Roth IRA account by your plan provider DIRECTLY to the IMF. Funds that are withdrawn by you and then contributed do NOT qualify.
- Gifts from 401k, 403b, SEP and other retirement plans do not qualify.
- Gifts must be outright. Distributions to donor-advised funds, supporting organizations, or life-income arrangements such as charitable remainder trusts and gift annuities are precluded.
The International Myeloma Foundation now has a free new tool to make it easy for you to give a gift directly from your IRA. Visit our tool to calculate how much you have to take out of your IRA and calculate the amount you would like to give in support of prevention and a cure for Multiple Myeloma today!
A donor-advised fund, or DAF, is a philanthropic vehicle established atsa public charity. It allows donors to make a charitable contribution, receive an immediate tax benefit and then recommend grants from the fund over time. The International Myeloma Foundation is a qualified recipient of grants through all Donor Advised Fund programs, including Fidelity Charitable Gift Fund, Jewish Communal Fund, Jewish Community Foundation, Vanguard Charitable Fund, and more.
To designate the IMF as a recipient of your gift, please search for International Myeloma Foundation or use the IMF’s Tax ID (95-4296919) to locate our organization from your fund’s web-portal.