Required Minimum Distributions and Qualified Charitable Distributions*
Individual retirement arrangement (IRA) owners age 70½ and older can make up to $108,000 in tax-free charitable donations during 2025 through qualified charitable distributions.
For those age 73 or older, qualified charitable distributions (QCDs) also count toward the year's required minimum distribution (RMD).
Generally, IRA distributions are taxable, but QCDs remain tax-free if sent directly to a qualified charity by the trustee. To make a QCD for 2024, IRA owners should contact their IRA trustee soon to ensure the transaction completes by year-end.
Each eligible IRA owner can exclude up to $105,000 in QCDs from taxable income. Married couples, if both meet qualifications and have separate IRAs, can donate up to $210,000 combined. QCDs don’t require itemizing deductions.
Donating Stocks
Giving stock is a great way to support Phamaly and lower your tax burden! A donation of appreciated stock can be more valuable than selling and donating the cash, allowing you to make a bigger impact and save on your taxes.
Legacy Gifts
Include Phamaly in your estate planning and make a difference that will last for generations. You can name Phamaly as a beneficiary or partial beneficiary of a specific account or in your trust or will.
Talk to your financial advisor, tax advisor, or attorney about how to make any of these types of donations.
Give them Phamaly's mailing address and EIN listed below:
Phamaly Theatre Company 84-1123080 3532 Franklin St Ste T2 Denver, CO 80205 *This is meant for informational purposes only. Please consult with your tax advisor or attorney.