Make A Gift To Philly House
After you reach 70½, you are required by the Internal Revenue Service to begin withdrawing money from your individual retirement account. This requirement offers a good opportunity to give tax-free dollars to your favorite charity or church.
To learn more contact 215-922-6400 ext. 1005 or donations@phillyhouse.org.
Frequently Asked Questions
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It’s an IRA withdrawal when you are 70½ or older that would normally be taxable, but becomes tax-free when it is paid directly to a qualified charitable organization.
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Individuals may give up to the maximum amount of $100,000 each year. Married individuals filing a joint tax return could each qualify for an income exclusion up to $100,000, and then could give away $200,000 jointly.
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Yes. You can direct the entire required minimum distribution to be transferred to a qualified charity and it will count toward meeting your required minimum distribution for that tax year.
Download a full guide to donating your IRA distributions or contact:
Angie Vincent
Head of Donor Care
215-922-6400 ext. 1005
donations@phillyhouse.org
Providing Unconditional
Refuge and Hope
Help us provide hope to the homeless, hungry and hurting of Philadelphia.
