If you are 70 ½ years old or older, you can make a gift to Gateway Arch Park Foundation directly from your IRA.
The IRA Charitable Transfer is an excellent way to make gifts and receive tax benefits in return.
What is the IRA Charitable Transfer?
The IRA Charitable Transfer allows individuals age 70½ and older to make direct transfers totaling up to $100,000 per year to 501(c)(3) charities.
Who qualifies?
Individuals who are age 70½ or older at the time of the contribution (you must wait until 6 months after your 70th birthday to make the transfer).
How much can I transfer?
$100,000 per year. The transfer must be outright to charity.
From what accounts can I make transfers?
Transfers must come from a traditional IRA directly to charity.
To what charities can I make gifts?
Tax exempt organizations that are classified as 501(c) (3) charities, including Gateway Arch Park Foundation.
Does this transfer qualify as my required minimum distribution?
Once you reach age 70½, you must take required minimum distributions from your retirement plans each year. IRA Charitable Transfers count towards your minimum required distribution for the year in which you make the gift.
What is the procedure to execute an IRA Charitable Transfer?
To make a qualified charitable distribution from your IRA, please inform your IRA custodian that you intend to make a Qualified Charitable Distribution directly to Gateway Arch Park Foundation, federal EIN #27-2128072. Please let your IRA custodian know that this gift must be sent prior to December 31 to qualify as an IRA Charitable Transfer. The check should be made payable to “Gateway Arch Park Foundation” and be sent directly from your IRA custodian to ATTN: Development, Gateway Arch Park Foundation, One South Memorial Drive, Suite 700, St. Louis, MO 63102.
Please request that your IRA custodian include a cover letter identifying you as the donor and providing your mailing address. Please contact us when you direct the transfer so we can look for the check from your IRA administrator. If you or your custodian have any questions, please contact Amanda Goldsmith, Director of Philanthropy and External Affairs, at 314-881-3535 or Amanda.Goldsmith@archpark.org.
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results.