Make a gift tax-free with an IRA donation to charity
Make a difference today and save on taxes. It’s possible when you support the Breast Cancer Research Foundation (BCRF) through your IRA.
A Special Opportunity for Those 70½ Years Old and Older
You can give any amount (up to a maximum of $108,000 for 2025) per year from your IRA directly to a qualified organization such as BCRF without having to pay income taxes on the money. Gifts of any size—$108,000 or less—are eligible for this benefit and you can feel good knowing that you are supporting lifesaving research.
Why consider a charitable donation from IRAs
- Your gift will be put to use today, allowing you to see the difference your donation is making.
- Beginning the year you turn 73, you can use your gift to satisfy all or part of your required minimum distribution (RMD).
- You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
- Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease how much of your social security is taxable.
How can I give money from my IRA to charity?
To arrange a qualified charitable distribution (QCD) or required minimum distribution (RMD) from your IRA, follow these 3 easy steps:
- Contact the financial institution where your IRA is held and instruct them to send all or a portion of your RMD to the Breast Cancer Research Foundation (federal tax ID: 13-3727250).
- Ask that they send the check directly to BCRF: 28 West 44th Street, Suite 609, New York, NY, 10036. It only counts as a QCD or RMD if the check goes from the financial institution directly to a charity.
- Let us know, so we can properly acknowledge your gift by emailing Amanda Johnson at legacy@bcrf.org or calling 646-497-2680.
For Those 59½ Years Old or Older
If you’re at least 59½ years old, you can take a distribution and then make a gift from your IRA without penalty. If you itemize your deductions, you can take a charitable deduction for the amount of your gift.
At Any Age
No matter your age, you can designate BCRF as the beneficiary of all or a percentage of your IRA and it will pass to us tax-free after your lifetime. Simply contact your IRA administrator for a change-of-beneficiary form or download a form from your provider’s website.
Frequently asked questions about an IRA distribution to charity
- Can you make a charitable distribution from an IRA to BCRF?
Yes, you can. If you are 70½ or older, you can make a qualified charitable distribution (QCD) of up to $108,000 annually from your IRA directly to BCRF. This is a great way to support our mission while receiving a tax benefit. - Can you gift money from an IRA without paying taxes?
Yes. By making a qualified charitable distribution (QCD) directly from your IRA to a nonprofit like BCRF, you can fulfill your philanthropic goals without the distribution being counted as taxable income. This means you avoid paying federal income taxes on the amount you donate. - What is the best way to leave an IRA to BCRF?
The most tax-efficient way to leave an IRA to BCRF is to name the Breast Cancer Research Foundation as a direct beneficiary of your IRA account. This ensures that the assets are transferred to the Foundation tax-free, and your loved ones avoid the income tax burden that would typically be associated with inheriting a retirement account.
The steps to do so are simple:
- Contact your IRA plan administrator (the financial institution that holds your account) and request a change-of-beneficiary form.
- Fill out the form, making sure to use the Breast Cancer Research Foundation’s full legal name and tax identification number (13-3727250) to avoid any confusion.
- Return the completed form to your plan administrator to finalize the change.
