Charitable IRA Distribution

Charitable IRA Distribution

Donors over age 70½ can make a tax-free distribution from their IRA to Carolina Tiger Rescue.  It’s a tax-efficient way to support the animals. 

Individuals who are subject to Required Minimum Distributions (RMD) now have options that allow them to donate some or all of their RMD (up to $100,000 annually) directly to qualified charities.  Distributions sent directly to qualified charities – such as Carolina Tiger Rescue – count toward your annual requirement, but are not taxable to either you or Carolina Tiger.  There is no income tax deduction available, as the distribution (in most cases) is being made from assets that were never taxed.  It is federal-income-tax neutral.

Please note: Individuals aged 70½ and older may make tax-free (for federal tax purposes) distributions to nonprofits from their individual retirement accounts (IRAs). Prior to 2019, North Carolina donors who used the IRA charitable distribution had to pay state taxes on these charitable contributions. A new law enacted in November 2019 ended this state tax on donations to nonprofits through IRAs, simplifying the process for donors and allowing them to contribute more fully to nonprofits from their IRAs.

To make a charitable IRA distribution, instruct your IRA administrator to make a distribution check payable to Carolina Tiger Rescue (not to you) and send it to:

Official name:  Carolina Tiger Rescue

Address: 1940 Hanks Chapel Rd., Pittsboro, NC  27312

Taxpayer Identification Number (TIN):  56-1522499 (sometimes called Employer Identification Number, or EIN)

For more information about making a Charitable IRA Distribution gift to Carolina Tiger Rescue, please contact Heidi Zangara, Planned Giving Manager.