If you are 70½ or older, you can make a tax-free gift to Dana-Farber directly from your individual retirement account (IRA). This is called a qualified charitable distribution (QCD).
The FAQs on the SECURE Act: The Setting Every Community Up for Retirement Enhancement (SECURE) Act was enacted January 1, 2020. With it came many questions
for those who are planning for retirement, retired or who are retiring in the near future.
The advantages of a QCD
- Tax benefits: A charitable gift transferred from your IRA directly to Dana-Farber will not be taxed and can satisfy your required minimum distribution (RMD), maximizing benefits to both you and Dana-Farber.
- Ease: You do not need an attorney to make this gift; simply contact your IRA administrator.
- Flexibility: An IRA gift can be directed to unrestricted support for Dana-Farber and the Jimmy Fund’s lifesaving mission or a specific area.
The requirements for an IRA gift
- Be age 70½ or older
- Give your required minimum distribution, up to $100,000, from your IRA per year
- Transfer funds directly from a traditional or rollover IRA to Dana-Farber
Please note: Gifts from an IRA cannot be accepted when goods or services from the charity are provided.
- Contact your IRA administrator, and then call Dana-Farber’s Philanthropy Office at 617-632-6099 to share your intentions.
- Download Dana-Farber's sample distribution letter to customize and share with your IRA administrator or financial advisor.
Please call Dana-Farber's Philanthropy office at 617-632-6099, or email Kimberly Mougenel.
Are you a financial advisor?
If your clients are looking to make a gift through their IRA, please note Dana-Farber’s tax ID number is 04-2263040. Please see our Resources for Advisors for more